Since 2000, Intel has done just about everything right in its core business, maintaining its dominance of the market for PC microprocessors and putting substantial distance between itself and competitors in the market for server chips. And yet the company finds itself in a very tough position: computers are going mobile, and Intel’s share of the microprocessor market is falling off a cliff.

As shown in the chart above, 61 percent of all computing devices shipped in 2011 were of the mobile variety—up from less than 1 percent in 2000. Because most of those devices rely on technologies other than Intel’s, the company’s share of the total market for processors in computing devices has fallen from 80 percent to around 30 percent.