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Intel says to exit 5G smartphone modem business

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Intel says to exit 5G smartphone modem business
FILE PHOTO: Shadows are cast near the Intel logo at the 2015 Computex exhibition in Taipei, Taiwan, June 3, 2015. REUTERS/Pichi Chuang   -   Copyright  Pichi Chuang(Reuters)
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(Reuters) – Intel Corp said on Tuesday it was 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.

“…in the smartphone modem business it has become apparent that there is no clear path to profitability and positive returns,” Intel CEO Bob Swan said in a statement.

(Reporting by Ismail Shakil in Bengaluru; Editing by Sandra Maler)

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