Intel says to exit 5G smartphone modem business

(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)

Intel says to exit 5G smartphone modem business

(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)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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