For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Apple Buys Majority Stake In Intel’s Smartphone Modem Business

|

On Thursday, Apple Inc said that it would buy the majority of Intel Corp's smartphone modem business for $1 billion. The acquisition comes months after the chip-maker announced its plans to exit the 5G modem chip business.

As per the deal, around 2,200 of Intel employees will join Apple and the iPhone maker will acquire Intel's IP, over 17,000 wireless technology patents and equipment as well. The transaction is expected to be completed by the end of this year.

Apple Buys Majority Stake In Intel’s Smartphone Modem Business
 

Intel will continue to develop modems for PCs, Internet of Things (IoT) devices, autonomous vehicles and other products but will be moving out of production for smartphones entirely to focus on developing other 5G technologies, the company said.

In the past year, Intel had become the sole source of iPhone modem chips after Apple got into a prolonged legal fight with its previous supplier Qualcomm Inc. In April, however, Apple made a surprise settlement with Qualcomm by re-initiating use of its modem chips, leading to Intel's decision to quit the business.

Experts suggest that the acquisition of Intel's production will mean that Apple will be able to produce its own 5G modems for its smartphones in a few years, reducing reliance on Qualcomm.

Read more about: apple intel
Story first published: Friday, July 26, 2019, 10:13 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more