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What really happened to Intel's failed TV ambitions?

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Intel rented retail space in New York, Los Angeles, and Chicago earlier this year in which it planned to launch and sell Intel TV: a new living room-based entertainment service that was described as "far superior" to existing cable and satellite packages by early users. But these stores won't ever see the launch of Intel's new service: Reuters reports Intel canned the TV project after new CEO Brian Krzanich decided the company "could not afford the distraction or expense" of creating a new product in a new market. Reuters says Intel will instead focus on its chip manufacturing business, sell the OnCue technology it developed to enter the TV sector under the direction of "realist" Krzanich, and use the rented retail spaces to peddle an existing range of ultrabooks and tablets.