Intel Corp. late Monday lowered its gross-margin outlook for its fiscal first-quarter due to lower NAND flash-memory chip prices than expected.

For the quarter ending in March, Intel expects gross margins of 54 percent, plus or minus a point. The chipmaker said no other parts of its outlook issued alongside its fourth-quarter earnings report in January will be affected.

NAND chips are used in MP3 players, cameras, USB flash drivers and cell phones.