April 16, 2019 / 11:48 PM / 8 days ago

Intel says to exit 5G smartphone modem business

April 16 (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)

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