Intel to Stop Making Modem Chips for 5G Smartphones
17 April 2019 - 10:34AM
Dow Jones News
By Asa Fitch
Intel Corp. is exiting the business of making modem chips for 5G
smartphones, the company said Tuesday, hours after its chief rival
in that market, Qualcomm Inc., resolved a yearslong legal dispute
with Apple Inc.
Intel said it wouldn't launch 5G modem products that had been
slated to go out next year, and would instead assess opportunities
for 4G and 5G modems in personal computers and internet-of-things
devices.
While Intel was excited about 5G, in the modem business, "it has
become apparent that there is no clear path to profitability and
positive returns," Chief Executive Bob Swan said in a statement. He
added that the new generation of wireless technology remains a
strategic priority, and that Intel is "assessing our options to
realize the value we have created" in 5G, including opportunities
with other devices and platforms.
(More to come)
(END) Dow Jones Newswires
April 16, 2019 20:19 ET (00:19 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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