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Business | December 03, 2019

Intel completes sale of smartphone modem business to Apple

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

This transaction, valued at USD 1 billion, was originally announced in July, 2019. The sale will enable Intel to focus on developing technology for 5G networks while retaining the option to develop modems for non-smartphone applications, such as PCs, IoT-devices and autonomous vehicles.
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December 12 2019 10:59 am V14.8.5-1