(Adds shares, details)
Jan 9 (Reuters) – Apple Inc plans to drop a Broadcom Inc chip used in its devices in 2025 and use an in-house design instead, Bloomberg News reported on Monday, according to people familiar with the matter.
The iPhone maker is also looking to swap out Qualcomm Inc’s cellular modem chips with its own by the end of 2024 or early 2025, according to the report.
Apple, Broadcom and Qualcomm did not immediately reply to Reuters’ requests for comments.
Shares of Broadcom ended 2% lower.
For fiscal 2022, Apple accounted for about 20% of Broadcom’s net revenue and contributed at least 10% of revenue for Qualcomm.
Apple has been working to limit its reliance on other chipmakers. With recent models of its Mac computers, the company moved to its own M1 line of chips, replacing those from Intel Corp. (Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath)
