The talks, which had the potential of becoming a multibillion-dollar deal for the chipmaker, started around last summer, but halted after Apple reached a multi-year modem chip supply agreement with Intel’s rival, Qualcomm, earlier in April. (Wall Street Journal)

Talking point: Qualcomm used to be the sole provider of iPhone modem chips, but Intel started to gain some of that iPhone business as Qualcomm’s feud with Apple worsened. Apple and Qualcomm were embroiled in legal battles in Germany and China—which resulted in a sales ban of some iPhones in those countries—as well as the U.S.; the companies later dropped all lawsuits in a settlement that included a six-year global patent licensing agreement, along with a multi-year deal for Qualcomm to supply parts to Apple. Buying Intel’s modem business may not have been good for Apple’s bottom line, since the former reportedly loses about US$1 billion annually. In other Intel news, the company said it is “evaluating alternatives” after it lowered financial expectations for the year. Intel’s stock dropped by 10 per cent on Friday.