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Report: Apple may buy Intel unit

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Apple Inc. is reportedly in talks to purchase a unit of Intel Corp.

People familiar with the matter told The Wall Street Journal Apple is in advanced talks to purchase Intel's smartphone-modem chip business. That would allow Apple to take more control over the development of components inside iPhones.

The deal, which covers patents and staff, is valued at more than $1 billion.

Read more from The Wall Street Journal.

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