Intel Corporation (NDAQ:INTC) shares moved up marginally after the Financial Times reported that the company plans on entering the high-end cell phone market currently dominated by Blackberry and iPhone. Many are carefully watching this move as yet another large player enters an already crowded cellular chip maker marketplace.

Intel's CEO said that the company plans to create more products to push "internet access, compute capability, small form factors, or high performance, or low power for cost savings, are all necessary ingredients, to build these new classes of machines, whether it's in computer. It is where the handset world is going, or where the world of consumer electronics is going."

Essentially, Intel believes that it can create smaller chips with an extended battery life. The company also said it plans to integrate its WiFi and WiMax technologies as part of the product. Given the company's affiliation with Sprint and Clearwire, the firm will likely challenge large US cellular providers like AT&T and Verizon Wireless. This makes INTC a stock worth watching!

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