Apple acquired the majority of Intel’s smartphone modem business back in July. Now the chipmaker has officially announced that it has completed the sale of the majority of its smartphone modem business to Apple.

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.

Intel press release

For Apple, ownership of Intel will allow the company to focus better on its connected device efforts, and source some of them to the now in-house division. It will also allow Apple to depend less on its suppliers (currently Qualcomm), as the company will become more efficient and independent.

According to reports, the first Intel-made 5G modem to be used in an iPhone will likely see the light of day in 2022.

Source: Intel

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