"It's a device that some people will use [as] a stand-alone device, but many people will use as a companion device," Otellini said.

Intel is now investing in the development of ultrabooks, which the company is promoting as the next generation of PCs. In May, Intel outlined ultrabooks as thin and light PCs that include tablet features. Ultrabooks will account for 40 percent of consumer laptop sales by the end of next year, and the hardware industry's response has been encouraging, Otellini said.

"The ultrabook project is much more akin to Centrino," Otellini said. Intel changed the way PCs connected with Centrino, and Otellini said the ultrabook development is an engineering project to shift the PC market in a new direction. PC prices won't change, so the company has to engineer thinner components for slimmer PCs that are affordable.

Intel's newly acquired McAfee and Infineon Wireless Solutions units performed well, bringing in revenue of $1 billion together, Otellini said. Intel and McAfee later this year will ship the first product that combines Intel's chip features with McAfee software. More details on that product will be provided at the Intel Developer Forum, which will be held in San Francisco between Sept. 13 and 15.