Report: Apple to buy Intel smartphone chip business for $1 billion

Intel decided to exit the smartphone modem business shortly after Apple and Qualcomm settled their disputes and the latter became officially the iPhone-maker’s supplier. Still, rumors have surfaced over Apple possibly being in talks, all these years, to purchase Intel’s smartphone modem business, but were put to rest after the Qualcomm deal, just to resurface again last month with fresh information.

The Wall Street Journal reports that Apple is now in “advanced talks” with Intel for its smartphone-modem chip business. The information comes from unnamed sources familiar with the matter who also claim that Apple could pay $1 billion or more for the business, patent portfolio, as well as staff.

The report suggests that a deal could be reached next week and would give Apple a competitive edge in developing its own chips for iPhones and iPads. We’ll keep an eye out and inform you of any developments on the matter.