Apple’s technology stack and supply chain just got a bit bigger. Intel has announced that it has completed the sale of its smartphone model business to Apple, which will allow the company to keep much more of its work in-house. In a previous report, Intel blamed Qualcomm and its licensing practices for the “multi-billion dollar loss.”
This transaction, valued at $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.