Broadcom looks to exit cellular baseband chip business

Chipmaker Broadcom Corp said it was looking to exit its cellular baseband business, and forecast current-quarter margins to beat or be at the high end of its estimate. The cost-intensive cellular baseband business has been losing market share and has weighed on Broadcom's margins. The business was "significantly unprofitable," FBR Capital Markets analyst Christopher Rolland said. Broadcom on Monday said it would sell or wind down the business as soon as it could, saving some $700 million annually.



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