Apple to acquire majority of Intel’s smartphone modem business in a deal valued at $1 billion

After reports, Apple and Intel have confirmed that Apple will acquire the majority of Intel’s smartphone modem business in a transaction valued at $1 billion. Approximately 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases. Intel closed its 5G modem business in April this year after Apple and Qualcomm announced a settlement and prior to this, Intel became the sole third-party provider of modems of the iPhones launched in 2018. Continue reading “Apple to acquire majority of Intel’s smartphone modem business in a deal valued at $1 billion”