Apple completes takeover of Intel's mobile modem business
Intel has completed the sale of its mobile modem business to Apple, allowing the USA's number one tech company to take over and benefit. The deal was signed back in July 2019 and was a considered a multi-billion dollar loss for Intel despite its 1 billion USD (~RM4.17 billion) valuation, according to a Reuters report.
But Intel's loss is Apple's gain and ownership of the business will enable the latter to directly source components for its mobile devices, like the iPhone 12 when it releases some time next year. It also means that Apple will have greater control over the design and manufacturing process of related components. Overall, Apple could potentially lower the manufacturing costs for some of its devices (like the iPhone 11?) and net higher profits.
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