Apple May Buy Intel’s Cellular Modem Business for $1 Billion

Jul. 23, 2019

Apple, which is looking to buy Intel’s modem division since last year, is reportedly in‘advanced stage’to strike a deal for $1 billion. According toThe Wall Street Journal, the deal could be reached as early as next week and, would cover Intel patents and staff valued at a billion dollars. However, according to unnamed sources cited by the report, there are still many obstacles that are preventing the companies from signing on the dotted line.

Apple had been working on its own modem chips for several years before giving up the ghost earlier this year. The company last April said it plans to cease working on in-house 5G modems, raising speculations that the company may instead buy out the modem business of other companies. As for Intel, it has confirmed that the‘surprise’settlement between Qualcomm and Apple– once pitted against each other over patent violation issues – pushed it to exit the mobile 5G race.

The decision came after Qualcomm and Apple decided to bury their hatchet earlier this year, with the iPhone-maker reportedly paying the San Diego-based firm somewhere between $5-$6 billion to dismiss all ongoing litigation, including those with Apple’s contract manufacturers.

With inputs from IANS

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