BR100 3,737 Increased By ▲ 3 (0.09%)
BR30 19,102 Decreased By ▼ -52 (-0.27%)
KSE100 36,190 Increased By ▲ 48 (0.13%)
KSE30 15,694 Increased By ▲ 18 (0.11%)
COVID-19 TOTAL DAILY
CASES 243,599 2751
DEATHS 5,058 75
Sindh 100,900 Cases Today
Punjab 85,261 Cases Today
Balochistan 11,099 Cases Today
Islamabad 13,829 Cases Today
KP 29,406 Cases Today
Business

Apple takes majority stake in Intel modem unit

SAN FRANCISCO: Apple agreed Thursday to pay $1 billion to acquire the majority of Intel's smartphone modem business, a m

Jul 26 2019

SAN FRANCISCO: Apple agreed Thursday to pay $1 billion to acquire the majority of Intel's smartphone modem business, a move giving the iPhone maker more control over its supply chain.

As part of the deal, some 2,200 Intel employees will join Apple, which will acquire intellectual property, equipment and leases.

Johny Srouji, Apple's senior vice president of hardware technologies, said the move "will help expedite our development on future products and allow Apple to further differentiate moving forward."

Intel chief executive Bob Swan said the deal "enables us to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology that our team has created."

Apple has been investing in its own mobile chips to ramp up performance and features in its devices and reduce its dependence on sector leader Qualcomm.

Intel earlier this year announced it was abandoning efforts to compete with modem chips for smartphones synched to new-generation "5G" networks.

Apple has accused Qualcomm, which holds the most patents for chips, of taking advantage of its dominant position to charge exorbitant amounts for its chips or access to its patents. But the two firms later agreed to settle their legal disputes.

Copyright AFP (Agence France-Press), 2019