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4/17, 1:56 AM (Source: TeleTrader)
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Intel exiting 5G smartphone business

Intel Corp. said it is exiting the 5G smartphone business and assessing opportunities for 4G and 5G modems in PCs, internet of things devices and other data-centric devices.

The company said it will continue to invest in its 5G network infrastructure business and meet current customer commitments for its existing 4G smartphone modem product line. It, however, "does not expect to launch 5G modem products in the smartphone space, including those originally planned for launches in 2020."

"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," said Intel CEO Bob Swan.

Breaking the News / KP