Apple buys Intel's modem business
26.07.2019 Francis Patterson 0 Comments
The amount of the transaction is $ 1 billion.
On Tuesday, we wrote that Apple plans to buy part of Intel for $ 1 billion dollars. Today it became known that an agreement has been reached.
Apple will transfer more than 2 thousand employees of Intel, in addition, Cupertino will get numerous patents, equipment and other assets directly or indirectly related to the development of modems for smartphones.
By the end of the year, the parties plan to fully complete the transaction process.
However, Intel does not plan to completely withdraw from the modem business. The company will still be able to create modems for PCs, Internet of Things gadgets, cars – in general, all devices, with the exception of smartphones.
The head of Intel, Bob Swan, has already announced that the technology giant will focus on the development and production of 5G products.
Apple’s decision to buy part of Intel says that the company is seriously intending to create its own 5G modem in order not to depend on Qualcomm anymore. Analysts are confident that this will take 3 years.
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