Intel Gets Out of a Brutal Business

Chip giant Intel (NASDAQ: INTC), best known for its PC and data center processors that have long dominated both markets, is also one of the leading manufacturers of NAND memory chips, which are used in solid-state drives and smartphones for data storage. While Intel's core business is extremely (and consistently) profitable, the memory chip business is a very different story. NAND chips are commodity products, meaning that chips from different manufacturers are largely the same.