Was Intel's (Nasdaq:INTC) Defective Support Chip Not Really That Important?

After discovering and announcing their 6 Series support chip was flawed, Intel (Nasdaq:INTC) said they'll lose close to $300 million in revenue for the quarter, but their annual revenue results shouldn't suffer from the situation.

This generates the question of what the actual outlook for the chip was for the year, seeing it was so hyped.

If the annual revenue won't be affected from the loss of revenue of the chip, how was it then going to help the company during that time? How does $300 million not affect revenue annually?

Was this viewed by Intel as simply a short-term quarterly impact? Their comments that it won't hurt 2011 revenue seems to imply that.

In other words, if this isn't going to hurt the revenue of Intel for the year, than how was it going to help it?

Intel has started developing the chips without the defect again, but it's unclear how long that will take to catch up with where they would have, or should have been.

Intel Closed Monday at $21.46, level with Friday's closing.