Apple in talks to buy Intel smartphone-modem chip business: WSJ

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PHOTO FILE: Apple logo appears in store in Zurich, Switzerland 3 January, 2019. REUTERS / Arnd Wiegmann

(Reuters) – Apple Inc (AAPL.Ohe is in advanced talks to buy Intel cipseker (INTC.O(d) smartphone-modem chip business, Wall Street Journal reported Monday, citing people with knowledge of the subject.

Assuming that talks do not fall apart, the deal, worth $ 1 billion or more, could reach next week, according to the WSJ. (download.wsj.com/2Yi5E6H)

Intel announced that it would leave the 5G modem chip business in April, when Apple settled a legal dispute with Qualcomm Inc.QCOM.O), main provider of iPhone modem chips.

The Journal reported in the same month that Intel was investigating the sale of its plus chip business to Apple or another recipient.

While Apple refused to comment, Intel did not respond to a request from Reuters.

Intel's share rose 1.5% to $ 52.10, and there was a slight increase in trade stretched by Apple people. Qualcomm shares were down by 2% on the report.

Intel is expected to report the second quarter results on July 25, and Apple plans to report its third quarter earnings on 30 July.

Reporting by Vibhuti Sharma in Bengaluru; Edited by Sriraj Kalluvila and Anil D 'Silva

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