Re: Bad deal, that's why
They don’t get their modems from Qualcomm. My figures come from googling, so they could be wrong … but it is a sensible justification for trying to produce their own. From somewhere else, “About 21% of Qualcomm’s fiscal 2022 revenue of $44.2 billion came from Apple, according to a UBS estimate”, that’s more than just modem chips, but there is plenty in $8B for at least $2B on modems..