Intel to Exit 5G Smartphone Modem Business, Focus 5G Efforts on Network Infrastructure and Other Data-Centric Opportunities
April 16 2019 - 7:30PM
Business Wire
Intel Corporation today announced its intention to exit the 5G
smartphone modem business and complete an assessment of the
opportunities for 4G and 5G modems in PCs, internet of things
devices and other data-centric devices. Intel will also continue to
invest in its 5G network infrastructure business.
The company will continue to meet current customer commitments
for its existing 4G smartphone modem product line, but 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. “5G
continues to be a strategic priority across Intel, and our team has
developed a valuable portfolio of wireless products and
intellectual property. We are assessing our options to realize the
value we have created, including the opportunities in a wide
variety of data-centric platforms and devices in a 5G world.”
Intel expects to provide additional details in its upcoming
first-quarter 2019 earnings release and conference call, scheduled
for April 25.
About Intel
Intel (NASDAQ: INTC), a leader in the semiconductor industry, is
shaping the data-centric future with computing and communications
technology that is the foundation of the world’s
innovations. The company’s engineering expertise is helping
address the world’s greatest challenges as well as helping secure,
power and connect billions of devices and the infrastructure of the
smart, connected world – from the cloud to the network to the edge
and everything in between. Find more information about Intel at
newsroom.intel.com and intel.com.
Forward-Looking Statements
Statements in this press release that refer to future plans and
expectations are forward-looking statements that involve a number
of risks and uncertainties. Words such as “anticipates,” “expects,”
“intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,”
“continues,” “may,” “will,” “would,” “should,” “could,” and
variations of such words and similar expressions are intended to
identify such forward-looking statements. Statements that refer to
or are based on estimates, forecasts, projections, uncertain events
or assumptions, including statements relating to anticipated trends
in our businesses or the markets relevant to them, also identify
forward-looking statements. All forward-looking statements included
in this release are based on management’s expectations as of the
date of this release and, except as required by law, Intel
disclaims any obligation to update these forward-looking statements
to reflect future events or circumstances. Forward-looking
statements involve many risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in such statements. Important factors that could cause actual
results to differ materially from the company’s expectations are
set forth in Intel’s earnings release dated January 24, 2019, which
is included as an exhibit to Intel’s Form 8-K furnished to the SEC
on such date. Additional information regarding these and other
factors that could affect Intel’s results is included in Intel’s
SEC filings, including the company’s most recent reports on Forms
10-K and 10-Q. Copies of Intel’s Form 10-K, 10-Q and 8-K reports
may be obtained by visiting our Investor Relations website at
www.intc.com or the SEC’s website at www.sec.gov.
Intel and the Intel logo are trademarks of Intel Corporation in
the United States and other countries.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190416006044/en/
William MossMedia
Relations650-521-1754william.moss@intel.com
Mark HenningerInvestor
Relations503-550-5162mark.h.henninger@intel.com
Intel (NASDAQ:INTC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intel (NASDAQ:INTC)
Historical Stock Chart
From Sep 2023 to Sep 2024