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Apple Buys Intels SmartPhone Business For $1-Billion

Video Credit: Wochit News
Published on July 26, 2019 - Duration: 00:32s

Apple Buys Intels SmartPhone Business For $1-Billion

Apple is acquiring the majority of Intel's smartphone-modem business in a deal valued at $1 billion.

Apple will have access to more than 17,000 patents and gain 2,200 employees from Intel as part of the deal.

Business Insider says the deal is expected to close in the fourth quarter of 2019.

The news comes after Intel announced it would be exiting the 5G smartphone-modem business in April.

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Apple Buys Intels SmartPhone Business For $1-Billion

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