Intel puts modem business up for sale, held talks with Apple

Intel Corp is checking out critical options for its modem chip business, including a possible sale to Apple or one more acquirer, the Wall Street Journal reported on Friday, mentioning people accustomed to the matter.

Intel made a decision to exit the 5G modem chip business last week, hours after Apple settled a historical lawful dispute with Qualcomm Inc, an essential distributor of apple iphone modem chips.
Intel puts modem business up for sale, held talks with Apple

Apple had held talks with Intel around last summertime and proceeded to do so for months until stopping recently around the moment of its settlement with Qualcomm, the WSJ report stated.

Intel has actually currently received expressions of passion from a variety of events as well as has employed Goldman Sachs Group Inc to take care of the procedure, which remained in an onset, the report said.

Apple, Intel and also Goldman Sachs decreased to a demand from Reuters for comment.

Shares of Apple closed at $204.3, down 0.53 percent.

Shares of Intel which were down as much as 11 percent on Friday afternoon after it cut its full-year profits expectation yesterday, pared losses to close at $52.43, down about 9 percent.

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