Intel has completed the sale of the majority of its smartphone modem business to Apple.
This transaction, valued at $1 billion, was announced on July 25, 2019.
The transaction enables Intel to focus on developing technology for 5G networks while retaining the option to develop modems for non-smartphone applications, such as PCs, internet of things devices and autonomous vehicles.
Intel sold its smartphone modem chip business to Apple at "a multi-billion dollar loss," the U.S. chipmaker said last week, alleging that rival Qualcomm forced it out of the market using unfair competition practices.
Apple is expected to use Intel's 5G modems in the iPhones that will be released in the following years.