Intel Sells Smartphone Modem Business to Apple

Intel Corporation has completed the sale of the majority of its smartphone modem business to Apple, the company said.

This transaction, valued at USD 1 billion, was announced on July 25, 2019. As previously disclosed, this transaction enables Intel to focus on developing technology for 5G networks while retaining the option to develop modems for non-smartphone applications, such as PCs, Internet of things devices and autonomous vehicles.

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