Apple takes a big step, pays $1 billion for Intel unit in a push for chip independence
R Sinduja
News Editor
Image Credit: shortpedia
Apple took a step forward by purchasing the Intel corp business in a $1 billion deal, towards supplying its own smartphone chips. About 2,200 Intel employees will join Apple along with intellectual property, equipment, and leases. After the deal, Intel will retain the right to develop modems for non-smartphone applications like PCs, industrial equipment and self-driving cars. Intel's shares rose 5.7% to $55.05 after this news.
