Apple to buy majority of Intel’s modem chip business for $1 billion

(Reuters) - Apple Inc said on Thursday it would buy the majority of Intel Corp's smartphone modem business for $1 billion, months after the chipmaker announced plans to exit the 5G modem chip business. Apple will hold over 17,000 wireless technology patents and take on about 2,200 Intel employees after the completion of the deal, the iPhone maker said.

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