Apple’s Acquisition of Intel’s Smartphone Modem Business Completed, Intel Admits ‘Multi-Billion Dollar Loss’

Apple's Acquisition of Intel's Smartphone Modem Business Completed, Intel Admits 'Multi-Billion Dollar Loss'

Intel today announced it has completed the sale of the majority of its smartphone modem business to Apple for $1 billion following regulatory approval. The transaction was first announced in July and includes intellectual property, equipment, and approximately 2,200 Intel employees joining Apple.

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