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Apple reportedly in talks to buy Intel’s 5G modem business for $1 billion
Photo: Intel Corporation
Apple may be closing in on a deal to buy up Intel’s abandoned smartphone modem business for $1 billion, with The Wall Street Journal reporting today that a deal could be announced as early as next week.
Intel announced back in April it was exiting the 5G mobile modem business earlier this year after Apple reached a surprise settlement with Qualcomm that would see Apple once again return to using Qualcomm’s modems in its phones. Intel CEO Bob Swan went on to clarify that Intel had abandoned the modem business directly because of the Apple settlement — without Apple as a customer, the company concluded that it “just didn’t see a path” forward.