Intel to invest over Rs 742 cr in Bangalore R&D centre

Global chip major Intel will invest over USD 120 million (Rs 742 crore) on expanding its research and development infrastructure in Bangalore.

The expansion of Intel's facility is expected to be completed by mid-2015 and it will be a global centre of excellence for chip design, the US-based firm said.

"The India centre makes significant contributions to the entire product portfolio offered by Intel. Our new capacity in Bangalore will give us the right resources to make a meaningful difference as the company moves into exciting areas like the Internet of Things," Intel India President Kumud Srinivasan said.

This move reinforces Intel's commitment to invest and grow in India, he added.

Intel logged revenues of USD 52.7 billion and a net income of USD 9.6 billion in 2013.Intel India has been involved in businesses across segments -- servers, PCs like All in Ones, 2 in 1s, smartphones, tablets and Internet of Things.

The core competencies of the Indian operations, a major growth market for the chipmaker, include CPU, System-on-a chip, software and graphics.

The company has more than 4,200 employees in India, and a large number of them are engaged in R&D.