Apple moves closer to switching from Broadcom chips; plans to launch in-house next year: Bloomberg By Investing.com

Investing.com – Apple Inc is poised to replace Broadcom components with its own chip for Bluetooth and Wi-Fi connections starting next year, Bloomberg reported on Wednesday, citing people familiar with the matter.

The chip, codenamed Prokim, which has been in development for several years, is expected to be introduced in products in 2025. Taiwan Semiconductor Manufacturing (NISE:) will manufacture the chip, as it does with Apple’s other internal components.

The move is separate from Apple’s planned move away from cellular modems from Qualcomm Incorporated (NASDAQ: ), although the two parts will eventually work together.

Apple aims to develop integrated, energy-efficient wireless access, sources told Bloomberg.

Representatives for Apple and Broadcom declined Bloomberg’s request for comment.

Shares of Broadcom Inc ( NASDAQ: ) fell 2% on the news, while Apple Inc ( NASDAQ: ) rose nearly 1% in recent trading.