The modem, we think, is going to be crucial; 4G and 5G modems are going to get increasingly complex, and there's going to be fewer and fewer companies in the world that can do it. You've seen companies like Broadcom, Marvell and NVIDIA get out of the modem. We're to the point now where it's a very scarce asset, and an increasingly valuable one.

More importantly, grabbing a deal for the modem could be just the start of Intel's refocused mobile ambitions. Last month the company revealed it has obtained a license to manufacture ARM chips, so if all goes well it could eventually replace the processor space currently dominated by companies like Qualcomm and Samsung.

LG is already preparing to build a "world-class mobile platform" using Intel's 10nm tech, while VR and AI-processing could be other opportunities. It's been over a decade since Apple switched to Intel's x86 hardware for its computers, and now there's at least the possibility of a similar team-up for mobile devices in the future.