Intel’s IoT Group Shows Strong Recovery in Q2 2021

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Intel released its Q2 2021 financial results for the quarter ended on Monday. Second-quarter revenue exceeded April guidance led by continued strength in Intel’s Client Computing Group (CCG) and strong recovery in both Intel’s Internet of Things Group (IOTG) and the Enterprise portion of its Data Center Group (DCG). The IOTG had reported $984 million, up 47 per cent compared to the same quarter last year showing solid sequential recovery.

“The digitisation of everything continues to accelerate, creating a vast growth opportunity for us and our customers across core and emerging business areas. With our scale and renewed focus on both innovation and execution, we are uniquely positioned to capitalise on this opportunity, which I believe is merely the beginning of what will be a decade of sustained growth across the industry,” said Pat Gelsinger, Intel CEO.

In the second quarter, the company generated $8.7 billion in cash from operations and paid dividends of $1.4 billion. The PC and Mobileye businesses both achieved record Q2 revenue. In the second quarter, PC platform volumes were up 33 percent YoY and Mobileye closed 10 additional design wins for more than 16 million total lifetime units.

Intel has derived substantial majority of revenue from platform products that incorporate components and technologies used across CCG and IoTG operation segments. The Intel IoTG is said to include high performance compute solutions for targeted verticals and embedded applications in markets segments.

The US chipmaker recently led investment round for an Israeli startup FloLive, a company that provides connectivity solutions for IoT chipset and manufacturers, raising $15.5 million as part of a Series B round.

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