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Technology Stocks : Intel Corporation (INTC)
INTC 54.03+1.0%Sep 23 4:00 PM EDT

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From: JakeStraw4/17/2019 8:24:01 AM
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Intel said on Tuesday it's pulling out of the 5G smartphone market and will provide further details later this month.
cnbc.com
“The company will continue to meet current customer commitments for its existing 4G smartphone modem product line, but does not expect to launch 5G modem products in the smartphone space, including those originally planned for launches in 2020,” Intel said in a statement late Tuesday.

In the smartphone market, “it has become apparent that there is no clear path to profitability and positive returns,” Swan said in the statement. The company has warned in the past that margins are lower in the device market than in data centers. Intel said it will keep investing in its 5G network infrastructure business.
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