Intel has scrapped the 450MHz version of its Pentium III processor, which in all probability sets the record for the quickest movement of any Intel processor from birth to banishment.

As one chip is sent to the computing graveyard, more inevitably spring up to take its place. Intel has recently launched the new top-of-the-range 600MHz Pentium III, along with the 500MHz Celeron, sending existing processor prices onto an inevitable downwards slope.

The company boldly claims the 600MHz chip delivers "the highest levels of performance, longevity and investment protection for today's and tomorrow's computing needs".

The move is seen as an attempt to reposition the Intel range and undercut the price of AMD's Athlon processors at the same time.

AMD's 650MHz chip is currently the top performer in the processor market, with the range now matching or exceeding Intel's Pentium III chips in terms of speed, graphics and floating point performance - on paper at least.