STORY: Qualcomm has explored the possibility of buying parts of Intel's chip design business, two sources exclusively told Reuters.
The sources said the move comes as Intel looks to drop business units and sell off other assets.
They said its client PC design business is of major interest to Qualcomm executives.
The mobile chipmaker has been working on plans to buy pieces of Intel for months, according to the sources.
They added Qualcomm’s interest and plans have not been finalized and could change
.
An Intel Spokesperson said Qualcomm hadn't approached the chip giant about a potential acquisition and declined to comment on Intel's plans.
Qualcomm refused to comment.
The U.S. tech firm is known for chips found in smartphones, and counts Apple as a customer.
Intel reported a terrible second quarter last month, which saw a 15% reduction in staff and a pause on paying dividends.
Executives have grappled with how to continue to fund the company’s manufacturing plans and generate cash.
Its PC client business revenue dropped 8% to $29.3 billion last year amid overall weakness in the PC market.
Intel's board is due to meet next week to consider proposals from chief executive Pat Gelsinger on how to trim operations and save cash.
