Qualcomm bags modem chip order from Apple through 2026

Breaking the past reports, Qualcomm said on Monday that it will keep on supplying 5G modems to Apple smartphones launching in 2024, 2025, and 2026. The agreement comes amid reports that Apple has developed its own modem to feed in new iPhones.

This new expansion will help Qualcomm to post better business results from the smartphone unit, which reported $5.26 billion in sales in the quarter that ended in June, and could soften the blow of potentially losing a critical customer. About 21% of Qualcomm’s fiscal 2022 revenue of $44.2 billion came from Apple.

Currently, Qualcomm is the sole supplier of modem chips for iPhone devices including the iPhone 15. However, media reports previously hint that Apple is working on its own modem chip.

(source – Qualcomm)