Bloomberg has released a new report which claims Apple is currently attempting to close a deal that would result in the company buying out Intel’s entire 5G modem business. The company would be purchasing the portion of Intel for $1 billion, according to the report. It isn’t clear when the deal might close, but it could happen as early as next week.
it’s been quite the roller coaster for Apple and its modem situation. After its ultimate settlement with Qualcomm over various disputes, Intel instantly confirmed it would be dropping out of the 5G modem business. The reason? Part of Apple’s settlement was relying exclusively on Qualcomm 5G modems for future devices. Because of this, Intel wouldn’t have Apple as a client, and that meant the chip maker’s business would ultimately die a miserable death.
Reports have since surfaced indicating Intel was looking for a buyer of its 5G modem business, and it looks like Apple will be fulfilling their desire. If the acquisition closes, no doubt will Apple’s 5G development accelerate exceptionally since they’ll have Intel’s years of research and experience under their belt.
Again, things remain unclear as far as whether this deal will close next week and whether it’ll close at all. For now, we’ll have to sit back and wait to see what happens next.