Apple announces multibillion-dollar deal with Broadcom to develop 5G components

Image credit : CNBC A multibillion-dollar partnership between Apple and Qualcomm to develop 5G radio frequency and wireless networking components in the US was unveiled on Tuesday. The components, which will be designed and constructed in a number of American manufacturing and technological centers, including Fort Collins, Colorado, where Broadcom has a facility, will be produced in collaboration with US-based manufacturer Broadcom, the company announced.

“All of Apple’s products depend on technology engineered and built here in the United States, and we’ll continue to deepen our investments in the US. economy because we have an unshakable belief in America’s future,” Apple CEO Tim Cook said in a press release.

The deal's precise value was kept confidential. [caption id="attachment_175918" align="aligncenter" width="700"] Broadcom chip (Image credit : MarketWatch)[/caption] The initiative is a component of a bigger pledge made by Apple (AAPL) in 2021 to pump $430 billion into the economy between now and 2026. Following direct spending with American suppliers, data center investments, and capital expenditures, Apple (AAPL) stated that it is on track to reach its goal. Apple pledged $350 billion in 2018 to invest in new facilities and generate 20,000 new jobs, but later boosted that amount to $430 billion, stating that it had "significantly outpaced" its original commitment. Also read : Apple Wi-Fi Chip Production to Stop: Plans to Break Free from Qualcomm Relationship Additionally, Apple, which has continued to back 5G technology, made the step. In 2020, Apple delivered the first 5G-capable iPhone, and since then, it has also released the Apple Watch Series 7 and iPad Pro.