In the summer, Intel sold its business related to 5G modems to Apple. The amount of the transaction then amounted to 1 billion dollars.
As the company now claims, this deal was unprofitable for her. More precisely, the processor giant speaks of multi-billion losses. The company of its competitor, Qualcomm, blames the situation. Allegedly, the latter created the conditions on the market that replaced Intel.
Intel notes that it has invested billions of dollars, hired thousands of employees, acquired two companies and created innovative world-class products that eventually ended up in Apple smartphones. But in the end, this was not enough to change the market situation that Qualcomm created. In particular, after it settled its disputes with Apple, after which Intel immediately announced the closure of this business.