Apple Looking At Acquiring Intel’s Smartphone Modem Chip Business

The deal is reportedly worth $1 billion.

Apple is trying to get Intel’s patent portfolio in a deal currently valued at approximately $1 billion. According to a report released to the Wall Street Journal, a deal could be reached within the next week. Intel recently surprised the tech world by announcing that it would no longer be in the 5G smartphone-modem business. “It has become apparent that there is no clear path to profitability and positive returns,” Intel CEO Bob Swan previously explained when the decision to drop the 5G smartphone-modem business was made.

From Apple’s point of view, acquiring Intel’s smartphone business would give them far better control over a key component of its own business. Control over a key component of their devices could allow Apple to thrive, especially when they begin manufacturing 5G-compatible iPhone models. Intel and Apple have spoken about a potential deal in the past, but the past talks fell apart after Apple signed a separate deal with Qualcomm.

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