AMD Sells Handset Business to Qualcomm

Qualcomm has bought AMD’s handset division for $65 million. AMD has disposed of the handset business to exclusively focus on its fundamental businesses. The handset business has only spewed losses and caused despair ever since it fell into AMD’s lap as part of its 2006 acquisition of ATI.

Qualcomm has agreed to retain some of the existing employees involved in the handset division, although the exact figure hasn’t been revealed. Qualcomm will use the technology, which has changed hands as part of the deal, to develop more advanced graphics and audio solutions for mobile devices.