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Broadcom Corp.
Broadcom considers sale of cellular broadband business
Broadcom considers sale of cellular broadband business

Broadcom Corp. said it will explore strategic options for its cellular baseband business, including a possible sale. The company has hired JPMorgan Chase & Co. to assist. A sale or wind-down of the business is expected to reduce expenses by about $700 million, the Irvine company said Monday. Baseband chips are used to connect phones to cellular networks, a business dominated by rival Qualcomm Inc. Shares of Broadcom slipped last year amid delays introducing the chips, hurting its ability to gain orders from smartphone makers such as Apple Inc. and Samsung Electronics Co. Broadcom will likely record a charge related to the possible sale or wind-down of the business, according to the...

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