In a recent IDF (Intel Developer’s Forum) 2010 conference Intel’s CEO Paul Otellini highlighted Intel‘s importance of creating smart devices and their plans of business expansion.

It is estimated that in the coming years “smart” devices like smartphones will increase to five billion by 2014.According to Otellini “People will choose the device that provides the best experience for any given intended use and that no one device will win.”

In order to meet the challenges, Intel is changing it business strategies to a “full computing solutions.”Otellini also explained the recent acquisition spree that Intel has made in the recent months in which companies like McAfee, Infineon and Wind River have been acquired.

He further explained that the recent acquisition has enabled Intel to diversify its business strategies according to new business risks that have been sighted amidst the recent developments in the IT industry.

With the acquisition of Wind River Intel has perfected its products like the Atom in order to gain great market share. According to Otellini, Intel by diversifying its product will have a wider knowledge base. Within this context Intel seeks to diversify with the acquisition of Texas Instruments, which will enable Intel to deliver Internet services to consumer electronics devices.

The hallmark of the conference was Intel’s announcement of its third generation chip that its next-generation chip design, which has been codenamed “Sandy Bridge”, will debut in PCs earlier next year.

Sandy Bridge will be based on “visibly smart” microarchitecture, which is manufactured through Intel’s cutting edge factories using 32 nanometer technology.