Apple is paying $1 billion to Intel for the chipmaker's smartphone modem division in a deal driven by the upcoming transition to 5G wireless technology.
Apple Inc. is paying $1 billion to Intel Corp. for the chipmaker’s smartphone modem division in a deal driven by the upcoming transition to the next generation of wireless technology.
Once the sale is completed, Apple will gain about 2,200 Intel employees and 17,000 wireless technology patents. Barring any complications, the deal is expected to close in this year’s final three months.Apple’s purchase of Intel’s smartphone modem patents and other technology could bolster its attempt to build its own line of 5G chips and lessen its dependence on Qualcomm. The Cupertino, Calif.
Apple isn’t expected to release an iPhone that works on 5G networks until September 2020, putting it behind rivals such as Huawei and Samsung, which already make handsets that work with the faster wireless technology.“This is a clear doubling down on 5G, which remains at the centerpiece of the company’s smartphone future,” Wedbush Securities analyst Dan Ives said of Apple’s deal with Intel.
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