Intel spent more than $10 billion to catch up in mobile, but failed | Re/code

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"After missing the early days of the smartphone revolution, Intel spent in excess of $10 billion over the last three years in an effort to get a foothold in mobile devices.

Now, having gained little ground in phones and with the tablet market shrinking, Intel is essentially throwing in the towel. The company quietly confirmed last week that it has axed several chips from its roadmap, including all of the smartphone processors in its current plans.

It’s a stunning admission of failure that saw the company throw good money after bad in its bid to make up for lost ground."

Intel spent more than $10 billion to catch up in mobile, but failed | Re/code