The iPhone maker did not disclose any financial details of the deal, but said it was part of a commitment to invest in the US economy.
Apple is Broadcom’s biggest customer, accounting for about 20% of the chipmaker’s revenue last fiscal year, which was around $7 billion.
Meanwhile, Qualcomm received 22% of its annual sales from the iPhone maker, which is about $10 billion.
This renewed agreement between Apple and Broadcom is an extension of a long-term supply agreement between the two companies. The iPhone maker is emphasizing the reach of the partnership at a time when politicians are focused on boosting domestic production of vital electronic components.
And the latest deal will put Apple on track to fulfill its 2021 commitment to invest $430 billion in the economy through 2026, and the company said it is on track to meet its target. , by directly agreeing with American suppliers, investing in data centers and increasing capital.
In 2018, Apple allocated $350 billion to build new facilities and create 20,000 jobs, but it increased its investment to $430 billion, indicating it far exceeded its promises.
For his part, Apple CEO Tim Cook said in the statement: “The manufacturing of all Apple products is based on technology designed and manufactured in the United States, and we will continue to deepen our investments in the American economy because our belief in America’s future is unshakeable.
Apple’s bet on support for 5G networks continues, as it introduced 5G technology in iPhones in 2020, and has since launched other 5G-enabled devices, including the seventh version of the Apple Watch. and iPad Pro.
It should be noted that the “iPhone” phone is considered Apple’s golden egg, since it is the largest source of profitability for “Apple”, since it generated more than half of its revenue from $394.3 billion last year.
The phone has also helped support the growth of Broadcom, which has described Apple in earnings calls as one of North America’s top customers. The chipmaker produces a common component that manages Wi-Fi and Bluetooth functionality on Apple devices.
Read the Latest World News Today on The Eastern Herald.
