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Apple now owns Intel’s mobile modem business

Intel completed its sale of the “majority” of the company’s smartphone modem business to Apple today. The deal — which was announced in July — is valued at $1 billion, though Intel claims it is still taking a “multi-billion dollar loss,” according to Reuters. By owning Intel’s modem technology, Apple will be able to source more components for its connected devices in-house rather than turning to vendors like Qualcomm — a company with which Apple has a bitter relationship.

The sale only includes Intel’s smartphone modem business; the chipmaker will still be creating modems for PCs, IoT gadgets and autonomous vehicles…

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