Intel selling make believe.
Market will soon see Intel's 22 nanometer is anti-competitive on with Taiwan foundry 28 nanometer. Taiwan 28 nanometer Tesmash A6-1450 wins GPU/CPU power/performance against intel's 22 nanometer Baytrail-T. Current Intel CEO already sees the Tesmash design wins (MS Surface, HP, Acer and he thinks even Apple (but not 100% sure).
Intel as well as AMD used trailing /depreciated capacity to make NOR flash .
AMD spun off Spansion and I believe Intel sold NOR to MU.
No reason why Intel can not apply this strategy to the foundry biz - Intel already has mature yields on 22nm TriGate while TSMC et al are scrambling to provide their FinFet solutions to market.
My guess is there will an Intel foundry business unit emerging that will be focused on winning
NON ARM foundry business - business that won't compromise Intel's core business
@resistion: i'm not sure intel is competitive at lower nodes(or else it would have offered them by now).
But if intel does find a way to compete at older nodes, it could really hurt tsmc who made most of revenues/profits from older nodes.
IDM based Foundry usually leave concerns to customers(could be competitors also). For Intel, there is IP conflict ahead. It also would take a while for Intel to fit into customers' specific requests or customers fit into Intel's specific offerings.