It's official: Apple buys Intel's smartphone modem business for $1 billion

For a long time Apple has been looking to lessen its dependence on Qualcomm for smartphone modems. For a few years it used Intel parts in its handsets alongside Qualcomm's, but after the settlement between Apple and Qualcomm a few months ago, Intel was left out, being forced to exit the nascent 5G modem business with no other customers lined up. Now Apple has gone ahead and acquired Intel's smartphone modem business, as previously rumored. Apple will pay $1 billion for the transaction, expected to close in the fourth quarter of this year. Approximately 2,200 Intel employees working on...