Intel chief executive officer Brian Krzanich has declared that the chipmaker will no longer be a PC company anymore. While the revelation might shock some people, it did not surprise the tech community since Intel has already hinted about this change.

Instead of focusing on the PC market, Intel is transforming itself to become a company that will power the cloud, as well as billions of smart and connecting computing devices. Krzanich added that the PC will be considered one of the many connected devices on the cloud.

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Krzanich highlighted Intel's new five-point strategy. The CEO said that Intel will focus on the cloud, this includes data centers, servers, and virtualization. Intel will also focus on connected things, such as autonomous vehicles, PCs, and sensors. Krzanich added that Intel will also focus on the evolving memory business, this include 3D XPoint memory in order to further develop new technologies for servers and data center infrastructures. Intel will also delve into connectivity, more specifically in the advancement of the 5G network. Finally, Intel will continue to develop its manufacturing arm and the underlying fab technology.

Krzanich said that 40 percent of Intel's revenue and 60 percent of the company's profit come from outside the PC market. In a statement, Krzanich said, "It's time to make this transition and to push the company over all the way to that strategy and that strategic direction. That's why we wanted to do it now."

Over the past several decades, Intel had built its reputation as a major microprocessor manufacturer. It chips power majority of the world's personal computers, and had even made the transition towards notebooks.

Tech and market analysts have been expecting Intel to shift its focus outside of the PC market for quite some time already. Recently, Intel laid off 12,000 of its workers in order to rebuilt itself and prepare for the post-PC age.

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