Qualcomm jumps in to report that Apple’s 2023 iPhone will use its modem

    Qualcomm President and CEO Cristiano Amon speaks about Qualcomm’s technology for automakers at a press conference during CES 2022 in Las Vegas, Nevada, January 4, 2022.

    Steve Marcus | Reuters

    Shares of Qualcomm jumped more than 3% on Tuesday after a prominent analyst said Apple will likely use the company’s 5G modem for its 2023 iPhones instead of relying on built-in technology.

    Ming-Chi Kuo, an analyst at TF International Securities, wrote in a tweet.

    While the iPhone 13 and other recent Apple smartphones use Qualcomm’s X60 modem to connect to 4G and 5G networks, Apple has been making moves in the wireless connectivity market. In 2019, the company bought Intel’s modem business, leading to speculation that it is growing and plans to use internal parts as soon as next year.

    Kuo, who is known for covering parts of Apple’s supply chain and making accurate predictions about suppliers before a product is announced, said he hopes that Apple will continue to grow. 5G chip development.

    Qualcomm is currently in the process of diversifying its chip business away from primarily handheld devices and into new markets including automotive semiconductors and low-power applications.

    Qualcomm previously said it expected to deliver 20% of iPhone modems by 2023 as part of its strong financial forecast, hinting to investors that the chipmaker doesn’t need its business. Apple developed.

    Apple and Qualcomm have long been partners, but the relationship is also controversial. The companies have faced courts around the world over Qualcomm’s licensing fees and how they sell their chips. Apple sued Qualcomm for $1 billion in the US before the companies signed a settlement in 2019 that included a six-year patent-licensing agreement and an agreement to use Qualcomm parts.

    The chipset deal indicates that Qualcomm will supply some but not all 5G modems for iPhones to Apple through 2024, according to a statement of work published as part of court documents.

    An Apple representative declined to comment. A Qualcomm representative did not immediately respond to a request for comment.

    Even with Tuesday’s rally, Qualcomm stock is down more than 29% this year, along with the rest of the tech market.

    CLOCK: Apple outlines new group photo editing and sharing features

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