Apple agreed Thursday to pay $1 billion to acquire the majority of Intel's smartphone modem business, a move giving the iPhone maker more control over its supply chain.

As part of the deal, some 2,200 Intel employees will join Apple, which will acquire intellectual property, equipment and leases.

Johny Srouji, Apple's senior vice president of hardware technologies, said the move "will help expedite our development on future products and allow Apple to further differentiate moving forward."

Intel chief executive Bob Swan said the deal "enables us to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology that our team has created."

Apple has been investing in its own mobile chips to ramp up performance and features in its devices and reduce its dependence on sector leader Qualcomm.

Intel earlier this year announced it was abandoning efforts to compete with modem chips for smartphones synched to new-generation "5G" networks.

Apple has accused Qualcomm, which holds the most patents for chips, of taking advantage of its dominant position to charge exorbitant amounts for its chips or access to its patents. But the two firms later agreed to settle their legal disputes.

Related Links
Satellite-based Internet technologies

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Netflix shares slide on disappointing subscriber growth
San Francisco (AFP) July 18, 2019
Netflix shares plunged in after-hours trade Wednesday after its quarterly update showed weaker-than-expected subscriber growth for the streaming television sector leader. Netflix said it added 2.7 million new subscribers worldwide in the April-June period, well below expectations, as the sector prepared for offerings from rival groups including Walt Disney, Apple and others. Shares in Netflix skidded 11.97 percent to $319.07 in after-market trade following the results, which showed revenues and ... read more