Intel Corporation beat earnings estimates once again, pulling in a profit of $2 billion on sales of $7 billion. The earnings represent a 17% improvement over the same quarter last year. And the earnings bonanza came with a gift to users: The company is lowering prices across the line, with steep cuts on mobile Pentium II processors and desktop processors.

Intel's 300 MHz mobile Pentium II and Celeron chips were reduced by over 40%, a dramatic savings. Pentium II desktop prices were reduced 17 to 18%, while Pentium III prices fell about 8%. On the high-end, prices for Pentium II and III Xeon chips were not changed.