Apple and Qualcomm reportedly tried to secure exclusive access to Taiwan Semiconductor Manufacturing Co. smartphone chips by making separate investment offers in the custom chip maker in excess of $1 billion.
The cash would have assured the investors that production would have been reserved for their products, but both bids were rejected, people familiar with the matter told Bloomberg. The two companies were trying secure manufacturing resources to satisfy increasing demand for smartphones, a market Bloomberg Industries estimates to be worth $219 billion.
CNET contacted Apple and Qualcomm for comment and will update this report when we learn more.
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