China's State-Backed Cybersecurity Body Calls for Intel Review; Intel Shares Drop 4.5%

Oct 16, 2024, 11:38 AM

The Cybersecurity Association of China, a state-backed group linked to the country's cyber watchdog, has called for a systematic cybersecurity review of Intel products sold in China. The association issued the notice on Thursday, citing frequent vulnerabilities, reliability issues, hidden backdoors, and high failure rates in Intel's products. It alleges that Intel has been 'irresponsible' towards customers and has 'constantly harmed' China's national security and interests, engaging in actions that 'harm China's interests and threaten national security.' Following this announcement, Intel's shares dropped in premarket trading, falling by as much as 4.5%.