Dana Cimilluca, Cara Lombardo, and Tripp Mickle for The Wall Street Journal:
Apple Inc. is in advanced talks to buy Intel Corp.’s smartphone-modem chip business, according to people familiar with the matter, a move that would jump-start the iPhone maker’s push to take control of developing the critical components powering its devices.
A deal, covering a portfolio of patents and staff valued at $1 billion or more, could be reached in the next week, the people said — assuming the talks don’t fall apart.
It would give Apple access to engineering work and talent behind Intel’s yearslong push to develop modem chips for the crucial next generation of wireless technology known as 5G, potentially saving years of development work… It has hired engineers, including some from Intel, and announced plans for an office of 1,200 employees in San Diego.
For Intel’s part, a deal would allow the company to shed a business that had been weighing on its bottom line: The smartphone operation had been losing about $1 billion annually, a person familiar with its performance has said, and has generally failed to live up to expectations.
MacDailyNews Take: The talks are back on; may they bear much fruit for our favorite fruit company!