BI Analyst on Apple's Extension of Qualcomm Chip Deal

Apple's efforts to design its own modem chips are taking longer than expected, leading to an extended contract with Qualcomm. This delay is due to the complexity of designing 5G modem chips that must work across various regions and networks. Qualcomm is expected to see a revenue boost as a result. Apple plans to phase out Qualcomm chips gradually, starting with lower-risk products like watches and iPads before moving to flagship iPhones.

Why is it important for Apple to match Qualcomm's performance in their modem chips?

What are the expected phases for Apple to transition away from Qualcomm solutions?