US chip manufacturer Intel (Nasdaq: INTC) is looking to triple its business in Latin America in the next five years, the company's general director for the region, Steve Long, told news agency EFE.
"If our main business area, personal computers, grows at a rate close to 10%, the growth rate in Latin America is twice that or even more," Long said.
Up until 2000 the company had little presence in the region, but since that year Latin America has drawn the company's attention, and it currently represents 6-7% of Intel's total revenues.
Intel's main opportunity in the region, as well as in other emerging markets like China and India, is based on people who are buying their first computers, which according to Long is a "unique" chance, since this potential is limited in more developed markets.
Additionally, data access offers new opportunities for the chip manufacturer, whether through computers, mobile phones or tablets.
Long highlighted developments in Brazil, a market set to become the third largest for the company this year, overtaking Japan.
Mexico is also expected to move up to 10th place in terms of the company's business this year.
In Latin America, Intel also has operations in Colombia, Argentina, Venezuela, Peru and Costa Rica.
The company saw US$2.91bn in revenues in the Americas during 2Q11, a 33.8% increase year-over-year. Globally, it posted US$2.95bn in net profits for the quarter, up 2.3%.