Apple now owns Intel's Smartphone Modem Business
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Intel has completed the sale of the majority of its smartphone modem business to Apple for $1 billion after regulatory approval; which includes IP, equipment & nearly 2200 Intel employees joining Apple. With the ownership of Intel's modem technology, Apple can source more components for its connected devices than turning to 3rd party vendors. Intel will retain the ability to develop modems for IoTs, PCs & autonomous vehicles.