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Intel Not Planning To Sell AR Business

Intel Not Planning To Sell AR Business

Contrary to Thursday reports, Intel Corporation (NASDAQ: INTC) is not looking to sell its augmented reality business, according to sources familiar with the company.

Rather, Intel seeks a partner to launch a startup, a spin-out company in which it invests, to bring technology like smart glasses to market. Its division currently involved in AR is valued around $350 million, according to Bloomberg, who reported Intel’s search for investors capable of contributing sales channels or industry expertise.

Intel declined to comment on the earlier rumor of a sale, which had triggered a marginal rise in share value.

Intel has had a difficult time getting its AR segment off the ground. It discontinued all Recon Instruments products in June, just two years after acquiring the business, and subsumed some of Recon’s employees in the existing AR division.

At time of publication, Intel shares were trading down 1.7 percent at a rate of $46.83.

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