Intel Corporation has completed the sale of the majority of its smartphone modem business to Apple, the company said.
This transaction, valued at USD 1 billion, was announced on July 25, 2019. As previously disclosed, this transaction enables Intel to focus on developing technology for 5G networks while retaining the option to develop modems for non-smartphone applications, such as PCs, Internet of things devices and autonomous vehicles.
Intel (NASDAQ: INTC), a provider of the semiconductor industry, is shaping the data-centric future with computing and communications technology that is the foundation of the world´s innovations. The company´s engineering expertise is helping address the world´s greatest challenges as well as helping secure, power and connect billions of devices and the infrastructure of the smart, connected world — from the cloud to the network to the edge and everything in between. Find more information about Intel at newsroom.intel.com and intel.com.
