Intel Becomes Bigger Smartphone Player
August 30, 2010
Intel has made it official: they have just filed a $1.4 billion takeover offer for iPhone component supplier, Infineon. We told you about this rumor earlier in the month.
“The global demand for wireless solutions continues to grow at an extraordinary rate,” Intel CEO Paul Otellini said in a statement.
Otellini went on to say: “The acquisition of Infineon’s WLS (Wireless Solutions) business strengthens the second pillar of our computing strategy–Internet connectivity–and enables us to offer a portfolio of products that covers the full range of wireless options from Wi-Fi and 3G to WiMax and LTE (4G).”
Infineon produces chips that enable 3G on iPhones. It also supplies parts to Nokia and Samsung. This deal, which is expected to close in early 2011, will make Intel a significant player in the ever-growing smartphone market.
The Germany-based Infineon was founded in 1999 when it was spun-off from Siemens AG.
