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Intel CEO Paul Otellini says he checked the opinion of Apple CEO Steve Jobs before buying German chipmaker Infineon Technologies' wireless unit for US$7.7 billion, reports "ChannelNews" (http://www.channelnews.com.au/Networking_And_Wireless/Industry/D8Q2K5R6).
"Steve was very happy," Otellini told Fox Business TV. "The industry was abuzz that this business unit was on the market, and there were a number of competing companies for it. I think they are very happy that Intel won the bid."
The purchase gives Intel a major foot in the door of the booming smartphone business. Infineon's baseband chips are used in the iPhone and other smartphones.