A recent study from IDC suggested that as the mobile device market becomes more heavily saturated, low-cost devices geared toward emerging markets and the education sector will become increasingly important for tech companies to continue growing. A Tuesday report from the Tab Times says that Intel (NASDAQ:INTC) is planning to release a $99 tablet by the holiday shopping season, which could be bad news for Apple’s (NASDAQ:AAPL) industry-dominating iPad.
Intel reported earnings after the bell on Tuesday, and according to the Tab Times report, after the earnings call, Intel CEO Brian Krzanich said consumers would see $99 tablets from the company by the holidays.
Intel’s earnings were not so impressive, as was expected for a company that depends so heavily on the PC market. Intel formerly dominated the PC chip industry, but now that consumers are favoring tablets and smartphones over personal computers, Intel has been struggling to keep up with the technological shift. These cheap tablets could be the company’s way to adapt.