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Intel abandons 5G iPhone plans following Apple's Qualcomm settlement

Welp, that was fast.
Just hours after Apple and Qualcomm announced that they’d finally settled their long-running legal battle, Intel says it’s abandoning its plans for a 5G smartphone modem. 
“We are very excited about the opportunity in 5G and the ‘cloudification’ of the network, but 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. 
SEE ALSO: What Apple and Qualcomm’s settlement means for the 5G iPhone
Prior to the Qualcomm settlement, Intel was Apple’s sole modem supplier for the iPhone XS and XR. And

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