Intel finds chip flaw, cuts revenue forecast

NEW YORK, USA: Intel Corp cut its first quarter revenue forecast by $300 million on Monday due to the costs associated with correcting a design flaw it discovered in one of its chips.

Intel said it has stopped shipments of the chip and has implemented a fix. It will begin delivering an updated version of the chip to customers in late February. Total cost to repair and replace the chip is expected to be around $700 million, it said.