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Apple may acquire Intel’s abandoned 5G modem business for $1 billion

Jul 23, 2019, 6:10 am

There is a possibility of Apple making a deal with Intel so as to procure Intel’s abandoned modem business for $1 billion.

The Wall Street Journal today reported that Apple’s potential deal with Intel might be announced within the next week.

This April, Intel had announced its decision to exit its 5G mobile modem business when Apple had chosen to use Qualcomm’s modems in its phones instead of those of Intel because the latter had reportedly been unable to provide a 5G modem to the iPhone within the specified timeframe.

Prior to this, Intel became the sole third-party modem provider for the 2018 models of the iPhone, with Apple being Intel’s most significant customer for modems.

Upon losing Apple as a customer, Intel had lost faith in its 5G modem business and had reportedly began searching for a buyer for its modem business.

CEO Bob Swan had stated that Intel had abandoned the modem business directly because of the Apple settlement.

Now, sources have told The Wall Street Journal that Apple’s deal with Intel to acquire the latter’s modem business, including a portfolio of patents and staff valued at $1 billion or more, could be announced in the next week.

By adding Intel’s portfolio and experience to the company, this deal might help Apple, which has been working on developing its own in-house modems, start operating independent of a third party for its modems in the future.

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