President Donald Trump tweeted Tuesday that he is “sad” that Intel won’t make a deal to buy chipmaker Qualcomm, which is currently Intel’s largest supplier of semiconductors for smartphones and tablets.
“Intel has made a deal with Qualcomm, but not a good one,” Trump wrote in a series of tweets.
“The only way this will work is if Intel agrees to buy Qualcomm at a discount.
The problem is, Intel already is buying too much.
It can’t afford to buy too much more.”
Trump said the Intel-Qualcomm deal would “save Intel billions of dollars” and “give Qualcomm a major boost in the future” because “it will make the company more competitive and will save Intel billions and billions of money.
Theoretically, Intel could easily be making a lot more money than Qualcomm.””
So we’ll be getting the best deal for Qualcomm, and if that doesn’t work, then the U.S. will buy Qualcomm,” Trump added.”
I will not allow Intel to be bought out,” Trump continued.
“Intel must not be allowed to be taken over by any foreign entity.”
Trump’s tweet came after he said Intel and Qualcomm have been “trying to get to a deal” for several years, but that the deal is now too expensive.
“As soon as I get my tax returns, I will tell you the truth, Intel and Intel’s CEO have been trying to get a deal for a while, but they have been so desperate that Intel has gone out of business,” Trump said.
“I will say this, Intel has a terrible product and Qualcomm has a very bad product.
But Intel and the company, Qualcomm, are getting into it.”
Intel’s CEO, Brian Krzanich, told The Wall Street Journal last month that the company is “looking to get in and out of this very fast.”
Trump has been feuding with Intel, which was one of Intel’s biggest suppliers of chips for smartphones.
He has repeatedly accused Intel of using “dirty tricks” to get Intel to make more products, even though Intel’s chips are sold in nearly every smartphone on the market.