Apple Extends Chip Deal With Qualcomm

Apple has extended its agreement with Qualcomm for three more years, indicating that Apple's own modem isn't ready yet. This deal ensures Qualcomm remains the modem supplier for iPhones through 2026. Despite Apple's efforts to develop its own modem, the complexity of creating a device that works across 5G and other networks has proven challenging. The financial terms of the new agreement are similar to the 2019 deal, and this extension is seen as a positive move for Qualcomm, especially with the upcoming 6G technology on the horizon.

What challenges does Apple face in developing its own modem technology?

What were the financial terms of the new agreement between Apple and Qualcomm compared to the previous one?