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Apple buys Intel smartphone modem business for USD 1 billion

2019-07-26 07:59:00| Telecompaper Headlines

(Telecompaper) Intel has confirmed an agreement to sell the majority of its smartphone modem business to Apple for USD 1 billion. Around 2,200 employees will transfer to Apple, along with intellectual property, equipment and leases. The deal is expected to close in the fourth quarter, subject to regulatory approvals and other customary conditions. 

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