Intel (INTC) is on the verge of proposing an acquisition of Infineon Technologies' (IFNNY) wireless unit that would give it an instant presence in the smartphone market, according to a Bloomberg report.
The world's top chipmaker is reportedly readying an offer of 1.5 billion euros ($1.91 billion) for the German semiconductor company's wireless unit, which supplies chips for both Apple's (AAPL) iPhone and the Galaxy S phone developed by Samsung Electronics (SMSN) -- the No. 2 mobile device maker based on shipments.
Intel, which has made previous attempts to land its chips in mobile devices, has yet to make its presence felt in that market segment, but an Infineon deal would change that in a single stroke. The Bloomberg article says a deal could be struck between the parties as early as this week.
Intel is aiming to duplicate its omnipresence in computers in mobile phones, but the company has gotten a late start. In May, the chip giant touted the launch of its Atom processor, which it's aiming for the mobile market.
Want to succeed? Then you need goals!View Course »