Apple was interested in acquiring Intel's smartphone modem chip business

Apple was reportedly interested in acquiring parts of Intel's smartphone modem chip business.

People familiar with the matter told The Wall Street Journal that talks between Apple and Intel started last summer and continued for months. However, talks ended around the time Apple and Qualcomm settled their legal dispute and signed a multi-year chipset supply deal. 

Despite the failed talks, Intel is said to be exploring "strategic alternatives" for its smartphone modem chip business, and is still interested in a sale to Apple or any other interested company. The costly nature of the business with "no clear path to profitability and positive returns" prompted Intel to exit the 5G smartphone modem market.

The potential multibillion-dollar deal could have boosted Apple's internal efforts to build its own modems. The iPhone maker published job listings for a "cellular modem systems architect" in December 2018. Nonetheless, it will take several years before Apple can develop and deploy its own modems.

Source: The Wall Street Journal via MacRumors