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Qualcomm estimates Apple will self-supply up to 80% of iPhone modem chips by 2023

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Nov 16 (Reuters) - Qualcomm Inc on Tuesday said that it believes it will supply only 20% of the modem chips to connect Apple Inc's iPhone wireless data networks by the device's 2023 launch.

Qualcomm currently supplies chips for all of Apple's devices. The company said at an investor conference that it believes its phone chip revenues will expand in line with broader phone markets despite Apple finding 80% of its modem chips from other suppliers.

Apple is working on its own modem chip and purchased Intel Corp's modem unit. (Reporting by Stephen Nellis in San Francisco)