Apple Inc. has decided to use Intel Corp. modem replacing Qualcomm Inc. chips for its iPhone used on AT&T Inc. US network and also few of the other versions of smartphones for overseas markets.  However, the deal was not publicized. iPhones sold in China and iPhones on Verizon Communications Inc.’s network will continue to use parts from Qualcomm. At present, Qualcomm is the only supplier of the main communication component for all versions of Apple iPhones.

Intel winning the order from Apple helped its share price rise as much as 0.7 percent to $32.15 and reversed the previous declines that it incurred.  Whereas, Qualcomm’s share price fell 2.9 percent to $53.40 after losing some major part of its business with Apple; which was one of its largest customer.