The event still gives Intel the opportunity to develop modems for computers, Internet of Things devices and self-propelled cars. It's not completely out of the mobile chipset industry, it just scales back. This will let the chip developer focus on 5G in areas where it "closely matches" with what customers want. The phone modems were not so popular beyond Apple to put it another way, and this gives it a chance to re-focus.
Apple was not shy about the plans for the acquisition. The move would provide fuel for its "growing mobile technology group" and help "speed up" the creation of future products that stand out from the package. The engineer has repeatedly suggested designing his own mobile device to gain more control over fate, and it has aggressively recruited employees to get it done.
Maybe Intel didn't have as much choice as selling. When Apple and Qualcomm settled their patent litigation and signed a multi-year chip deal, it effectively ignored the need for Intel modems on Apple devices. It is no coincidence that Intel canceled plans for 5G phone modem within hours of patent filing. The company had to either persuade Android device manufacturers to embrace the modems (a difficult prospect given to Qualcomm's dominance) or stop much of the work.
This does not mean that you will see a series of iPhones and iPads with Apple branded Intel modems. This is more about acquiring talent and ideas. Think of what you might Apple's purchase of PA Semiconductor ̵