Apple to spend billions of dollars on 5G technology

Apple has announced a multi-billion-dollar collaboration with U.S. tech firm Broadcom to make "cutting edge" components for wirelessly connecting to high-speed 5G telecom networks.

The iPhone maker did not specify exactly how many billions of dollars it would put into the Broadcom alliance. 

"We're thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing," Apple chief executive Tim Cook said in a statement.

"All of Apple's products depend on technology engineered and built here in the United States, and we'll continue to deepen our investments in the U.S. economy because we have an unshakable belief in America's future."    

The alliance will include designing and manufacturing sophisticated radio frequency components and other "cutting-edge wireless connectivity" parts in the United States. 

"5G technology is shaping the future of next-generation consumer electronics - and Apple is spending tens of billions of dollars to develop this field in the United States," the company said.

Apple is on pace to meet a commitment it made in 2021 to invest $430 billion in the U.S. economy over the course of five years, it said.     

It said those investments include money put into data centers, capital projects and suppliers.