Intel says it has lost a lot.
Intel today announced that it has sold most of its smartphone modem business to apple for $1 billion, with regulatory approval, following the announcement in July of its acquisition talks with apple.
Apple has acquired current intellectual property rights, equipment and about 2200 employees, including Intel. The deal enabled apple to acquire a large number of wireless patents from Intel, while Apple has more than 17000 wireless technology patents, ranging from cellular standard protocols to modem architecture and modem operation.
Intel reserves the ability to develop modems for non intelligent telephone applications (such as PC, IOT devices and autopilot).
Intel admitted that it had "lost billions of dollars" by selling its smartphone modem business to apple. Qualcomm's licensing agreement with apple "killed the competition" and effectively forced itself out of the market.
As part of a six-year licensing agreement between the two companies, apple is expected to use Qualcomm modems in its first 5g enabled iPhone next year. There are also reports that Apple plans to develop its own 5g modem for the iPhone by 2022-2023, and the deal with Intel will undoubtedly help these efforts.
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