Intel to Exit 5G Smartphone Modem Business
April 16 2019 - 8:13PM
Dow Jones News
By Josh Beckerman
Intel Corp. (INTC) said it plans to exit the 5G smartphone modem
business, focusing its 5G efforts on network infrastucture and
"other data-centric opportunities."
The company said it will continue to meet current customer
commitments for its existing 4G smartphone modem product line.
"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," Chief Executive Bob Swan
said.
Intel said it expects to provide details in its upcoming
first-quarter 2019 earnings release and conference call, scheduled
for April 25.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 16, 2019 19:58 ET (23:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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