Intel exits 5G phone business
CAPE TOWN – Intel said on Tuesday in a statement announced that it will be exiting the 5G smartphone modem business while assessing opportunities for 4G and 5G modems in PCs, internet of things devices and other data-centric devices.
Intel will also continue to invest in its 5G network infrastructure business.
Intel chief executive ofBob swan said in a statement: “We are very excited about the opportunity in 5G and the ‘cloudification’ of the network, but in the smartphone modem business it has become apparent that there is no clear path to profitability and positive returns.”
“5G continues to be a strategic priority across Intel, and our team has developed a valuable portfolio of wireless products and intellectual property. We are assessing our options to realize the value we have created, including the opportunities in a wide variety of data-centric platforms and devices in a 5G world.”
Intel expects to provide additional details in its upcoming first-quarter 2019 earnings release and conference call, scheduled for April 25.
Written by: Gabriella Steyn.
Guzzle Media
