Intel will auction off all intellectual property for its smartphone modem business as it plans to leave the business entirely, IAM Media reported.
The news comes after Apple announced an agreement with Qualcomm which will see it use Qualcomm's 5G chips in future iPhones.
Intel announced in April that it was going to pull out of the smartphone market because its businesses was not sustainable without its deal with Apple to provide smartphone modems to its iPhones.
The company has a comprehensive portfolio of IP, which means that there is likely to be substantial interest in the auction despite the fact that it has struggled to release any 5G products to the market.
Intel expects to receive indications of interest from prospective bidders by August.
IAM also claimed that Intel will be launching this auction separately to the sale of its wireless IP – although it will consider offers for a combined deal.