Intel (NASDAQ:INTC) "does not expect to launch 5G modem products in the smartphone space, including those originally planned for launches in 2020."
Apple's long-rumored 5G iPhone was expected to release in 2020 with an Intel modem.
Intel says it will instead focus on 4G and 5G modems for PCs, IoT, and other data-centric devices.
Earlier this month, UBS analyst Timothy Accuri suggested Apple wouldn't release its 5G phone in 2020 partly due to Intel not being ready to supply a compatible processing chip.
Intel refuted the note a day later and said it remained on track to supply its XMM 8160 5G modems for 2020 devices.
Apple was relying on Intel modems due to a long-standing legal battle with Qualcomm, which ended yesterday in a global settlement.
Intel shares are up 4.5% pre-market.
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