Intel announces intention to withdraw from 5G smartphone market



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Bob Swan, Acting Managing Director and Chief Financial Officer of Intel Corp., reacts at the inauguration of the company's Research and Development Center in Bengaluru, India on November 15, 2018.

Samyukta Lakshmi | Bloomberg | Getty Images

Bob Swan, Acting Managing Director and Chief Financial Officer of Intel Corp., reacts at the inauguration of the company's Research and Development Center in Bengaluru, India on November 15, 2018.

Intel announced Tuesday that it was pulling out of the 5G smartphone market just hours after Qualcomm and Apple announced the signing of a six-year licensing deal as part of a regulation of Royalties.

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