The tech giant Apple  is wonking on its own cellular modem for future devices. This move of the company would replace components from Qualcomm. Apple's top chip executive  Johny Srouji, Apple's senior vice president of hardware technologies shared this information. 

Johny Srouji made this disclosure in a town hall meeting with Apple employees, according to people familiar with the comments. Qualcomm shares dropped as much as 6.3 percent in extended trading. He said, “This year, we kicked off the development of our first internal cellular modem which will enable another key strategic transition. Long-term strategic investments like these are a critical part of enabling our products and making sure we have a rich pipeline of innovative technologies for our future.”

Let us tell you that a cellular modem is one of the most important parts of a smartphone, enabling phone calls and connection to the internet via cellular networks.The latest iPhone models with 5G use parts from Qualcomm. Before that, the US tech giant used Intel parts for a few years and then purchased that business unit from the chipmaker. 

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