As expected, Intel Corp launched its Basic PC Celeron processor yesterday, with a price tag of $159 in quantities of 1,000. Intel also launched boxed Celeron processors with its own MU44EX Micro ATX motherboards. At the same time, Intel cut the prices of its existing Pentium II chips by up to 32%. The 400MHz Pentium II chip, which has been on the market for less than three month, had its priced reduced by 12% to $722. The previously launched 266MHz clock speed version of the Celeron saw its price reduced 32% from $155 to $106, in quanties of 1,000. á