It has officially been confirmed that Apple has acquired Intel’s smartphone modem division for a whopping $1 billion along with the 2,200 employees that currently work in the in the division.
Of course, intellectual property as well as equipment and leases will now belong to Apple; the move is an effort from the fruit company in pushing development of 5G smartphones in the near future.
This also potentially saves Apple tonnes of money down the line – there isn’t the need for the initial stages of the R&D process, and they can cut out a big part of sourcing from external vendors. Plus, $1 billion is cheap change to a company as wealthy as Apple – they boast a revenue of $265,595 billion in 2018.
With this acquisition, Apple is becoming a strong brand – so it’ll be interesting to see what’s in store in the near future.