Intel Corporation is proceeding with its quarterly price cutting plans by slashing prices in August while introducing new versions of its low-end Celeron CPU. The Celeron, which is basically a 266 MHz Pentium II processor without any L2 cache, will be bumped to 300 and 333 MHz and will feature 128 K of L2 cache, further speeding them up. Intel also announced plans for a 366 MHz Celeron that will debut in early 1999.

When the new Celerons debut in August--a month earlier than previously anticipated--Intel will also slash prices on its Pentium II, Xeon, and mobile Pentium II chips