Apple signs billion-dollar deal for 5G technology

1684955178 Apple signs billion dollar deal for 5G technology
This picture shows an Apple Inc. Headquarters. — AFP/File
This picture shows an Apple Inc. Headquarters. — AFP/File

Apple has inked a multi-billion dollar deal with US-based tech firm Broadcom to work on advanced wireless connectivity components for high-speed 5G telecommunication networks. This partnership is in line with Apple’s commitment to invest in the US economy.

The company is geared up to deepen its investments in the United States by harnessing the innovation, creativity, and ingenious spirit of American manufacturing. Tim Cook, the Chief Executive of Apple, said in a statement that all of their products depend on technology built and engineered in America.

The company did not disclose the exact figure it had invested in the alliance. However, it revealed that the funding would involve developing and manufacturing sophisticated radio frequency components and other state-of-the-art wireless connectivity parts in the United States.

Apple is pouring in tens of billions of dollars into the development of 5G technology, which is shaping the future of next-generation consumer electronics; this claim has been established by the tech giant, whose net worth is more than $2 trillion.

The Silicon Valley-based company is working to fulfill its commitment to invest $430 billion in the US economy over five years, which it had made in 2021. The investment includes the money put into data centers, capital projects, and suppliers and is expected to boost the country’s economy significantly.