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Intel To Exit The 5G Smartphone Market Following Apple, Qualcomm Deal

In recent time, Intel said that it is exiting of the 5G smartphone market just a few hours following Apple and Qualcomm declared a 6-Year licensing accord as a part of a royalty agreement. In a statement, Intel said, “The firm will persist to meet present customer obligations for its 4G smartphone modem product channel, but does not anticipate launching 5G modem products into smartphone space, counting those originally intended for launches in 2020.” Shares of Intel increased around 4% to $58.97 in expanded trading after the declaration. The company asserted it would provide extra information regarding its plans in its proceeds report.

In January, Intel designated Robert Swan as CEO, ending a months-long hunt after the dismissal of Brian Krzanic. The company said that additionally to leave 5G smartphones market; it is charging its future in so-called IoT (internet of things) devices, or the increasing number of gadgets that are linked to the web. In the statement, Swan said, “In the smartphone market it is apparent that there is no obvious path to productivity and positive outcomes.” The company has cautioned in the past that boundaries are lower in the smartphone market compared to data centers. Intel reported that it would keep investing in the 5G network infrastructure business.

Recently, Qualcomm was in news as the semiconductor company’s stocks surged after declaring a settlement with Apple regarding patent royalties. Qualcomm and Apple have settled the royalty argument, the companies publicized during a press release. The settlement comprises a payment from Qualcomm and Apple in addition to a chipset supply agreement, indicating that Apple will purchase Qualcomm chips for prospect iPhones. Qualcomm stock increased over 20% following the news broke, enhancing its market capitalization by around $14.5 Billion to over $84 Billion.

Andrew Conover
CONTRIBUTING AUTHOR AT Industry Updates 24

Andrew Conover has done Masters in Atmospheric Sciences and manages the science domain at our publication. He is associated with us from last 2 Years. Andrew looks after science-related content and believes every new project is a prospect to raise the bar. His success mantra is taking a big concept and working on it with laser sharp focus. He is very clear with his workflow and believes in helping others with his valuable opinions and knowledge regarding space science. Outside of work, Andrew is a proud dad and plays football in leisure time. He also keeps tabs on all the Science-related events around and makes it a point to attend it and share his experience about it.

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