NEW DELHI: Apple, the world's leading and most expensive smartphone maker and other device manufacturers, has announced to buy Intel's smartphone modem business for $1 billion. Both the companies have entered into an agreement on this. The deal is expected to be completed in the last quarter of the year. The company has reported it on its website.
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Apple said the deal also included Intel's intellectual property, equipment and leases. According to the deal, the intel will have about 2,200 employees to join Apple. Apple said it will have more than 17 thousand patents for wireless technology after the deal. Intel will then build modems for devices other than smartphones.
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Intel CEO Bob Swan said "the deal will help us focus on developing technology for 5G networks. We are confident that Apple Mobile Modem will be able to provide a proper environment for the team. We've worked with Intel for years," said Johnny Rose, Apple's senior vice president (hardware technology).
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We know that this team from Intel has the help of developing technology that gives consumers a global experience. We are happy that so many brilliant engineers are joining our company. In the case of Apple Chip, it relies on Foxconn. The company had expressed its hope that it wanted to be self-sufficient in chip terms.
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