“We obviously got caught up in something that was above us,” says Qualcomm CEO Steve Mollenkopf.
The US-China trade spat scuppered the deal.
Instead of buying NXP, Qualcomm will use $30 billion of its $40vbillion cash mountain to buy back its own shares.
The two year saga of Qualcomm’s pursuit of NXP was originally intended to provide diversification out of mobile – particularly into automotive,
Qualcomm’s CFO says thst Apple will most likely not use a Qualcomm modem in this year’s range of iPhones which means, presumably, that Intel will supply all of Apple’s iPhone modem requirement