© Reuters.
By Yasin Ebrahim
Investing.com — Apple (NASDAQ:) is preparing to ditch the use of Broadcom (NASDAQ:) chips and Qualcomm modems in its devices as soon as 2024 and 2025, respectively, Bloomberg reported, citing unnamed sources.
Broadcom ended 2% lower, while Qualcomm Incorporated (NASDAQ:) closed 0.6% lower.
Apple is working on a combined WiFi/Bluetooth chip for 2025 that will replace components from Broadcom, which makes about a fifth of its revenue from the tech giant, Bloomberg reported.
The tech giant is also planning to start ditching Qualcomm, which makes about 22% of its sales from Apple, in favor of cellular modems by 2024 in one device, the report added.
The move is part of a plan to replace third-partner chips inside its devices with homegrown components. It comes a few years after Apple ended its 15-year partnership with Intel (NASDAQ:) in which the latter’s chips powered Apple’s laptops and desktops.
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