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Why Apple buying Intel's modem business is a big deal for the iPhone

Karissa Bell

It's finally happened. After months of speculation, Apple has confirmed its plans to buy Intel's smartphone modem business in a deal worth $1 billion. 

The acquisition, which hasn't been finalized, is Apple's second-largest in its history. (The record is still held by Beats, which Apple bought for $3 billion in 2014.) As part of the deal, Apple says more than 2,000 Intel employees will join its ranks. (Note that Apple is only acquiring Intel's smartphone modem business. The chipmaker, which abandoned its own 5G smartphone plans earlier this year, will still be able to make 5G chips for PCs and other devices.)  Read more...

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