Intel says it's exiting the 5G smartphone market, hours after Apple-Qualcomm settlement

Intel said on Tuesday that it's dropping out of the 5G smartphone market just hours after Qualcomm and Apple announced a six-year licensing agreement as part of a royalty settlement.

div > div.group > p:first-child"> "The company will continue to meet current customer commitments for its existing 4G smartphone modem product line, but does not expect to launch 5G modem products in the smartphone space, including those originally planned for launches in 2020," Intel said in a statement late Tuesday.

Intel shares rose about 3 percent in extended trading after the announcement. In January, Intel named Robert Swan as permanent CEO, ending a months-long search following the ouster of Brian Krzanich. Earlier in the day, Qualcomm shares surged 23 percent following the disclosure that Apple will pay the chipmaker as part of a settlement. According to Qualcomm, a new license between the two companies is six years, with a two-year option to extend.Subscribe to CNBC on YouTube.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel drops out of 5G modem business after Apple-Qualcomm settlementHours after Apple Inc. and Qualcomm Inc. settled their fight on Tuesday, Intel Corp. announced that it will get out of the business for 5G modem chips, in...
Source: MarketWatch - 🏆 3. / 97 Read more »

Intel says to exit 5G smartphone modem businessIntel Corp said on Tuesday it was exiting the 5G smartphone modem business, whil... 1 st time companie kill itself ?!!!!!!! Exit iot exit 5g amd 70% of worlwide cpu market.. Is intel following in IBM’s footsteps? Intel cannot compete with Huawei. Taps out before the fight even started.
Source: Reuters - 🏆 2. / 97 Read more »