The mobile improvements are tied to manufacturing advances made every two years by Intel. Intel is able to make chips smaller, faster, feature-rich and more power efficient with each process upgrade. A move to the 14-nanometer node is scheduled for early next year.
Intel is also due to release high-performance fourth-generation Core processors code-named Haswell for PCs early next month. Haswell's lowest power consumption will be single digits, giving PC makers flexibility on how they design products, Krzanich said. That move fits with the increasing number of hybrids, which can be used as laptops or tablets.
The growth in mobile will also augment the data center business, which is a profit driver for Intel as PC shipments shrink. Intel deals in server chips and networking and storage equipment. As the number of connected devices grows, companies will be able to process more data and provide more services for mobile devices.
"It's about providing answers as you increase the data rate available to you," Krzanich said.
In welcoming Krzanich as CEO, Intel also bid farewell to Otellini, who was presented with a 300-millimeter wafer in a plaque signed by Intel's directors as a good-bye gift.
Otellini joined Intel in 1974, after also being considered for jobs at Fairchild Semiconductor and Advanced Micro Devices, said Andy Bryant, Intel chairman, during a speech at the meeting.
"He chose Intel because of the people and environment he saw in the interview process," Bryant said.
Otellini was ahead of the curve in understanding technology and made breakthrough innovations in manufacturing and computing, Bryant said.
"Although silicon was an emerging technology, Paul saw it's potential," Bryant said.
Bryant pointed out that Otellini also delivered the first mobile chips to be used in smartphones and tablets, and spearheaded the effort to redesign PCs into ultrabooks, Bryant said.
Otellini also oversaw the company amassing $117 billion in cash reserves and increasing annual revenue to more than $50 billion, Bryant said.
"The board is grateful for his innumerable contributions," Bryant said.