Intel CEO vows 'we're going to fix' memory-chip unit

Intel vowed Wednesday to reverse the financial hemorrhaging it has seen in recent months due to falling prices for NAND flash memory chips - even as it hastens its move into new markets for computer chips.

The tech giant said at a meeting for analysts that it would repair the business that supplies memory chips to digital music players, cameras and other devices.

"This business will not be a drag on Intel Corporation," Chief Executive Paul Otellini said. "We're going to fix it or we're going to make it profitable."