Apple has bought a majority stake in Intel's smartphone modem business for US$1 billion and about 2200 Intel employees will move to the Cupertino-based iPhone maker, along with intellectual property, equipment and leases.
Apple may soon have a missing piece in its iPhone manufacturing chain if it succeeds in acquiring Intel's 5G smartphone modem business, with reports that the two companies are well advanced in talks to achieve this end.
An anticipated deal for processor maker Broadcom to buy security firm Symantec has fallen through due to the insistence of the latter on a price of US$28 per share, which was not acceptable to the former.
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