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Apple to Keep Qualcomm Chips in 2023 in Turnabout

Bloomberg business news
Qualcomm Tumbles After Forecast Missed Estimates
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Qualcomm Inc. will continue to provide the modem chips for the “vast majority” of iPhones in 2023, a turnabout for a company that had expected to lose the business to Apple Inc.’s homegrown components. 

Qualcomm had planned to only provide about 20% of the 5G modem parts for the new iPhones in 2023, but now expects to retain its current foothold, according to comments that accompanied its earnings report Wednesday. The statement confirmed that Apple won’t be moving to its own in-house modem design for next year’s models.