Intel (NASDAQ:INTC) has set its sights on getting its XMM 7360 LTE modem into the next iPhone and has put 1,000 employees on the project, according to VentureBeat. That would be great news for Intel, which has struggled to find its place in the mobile world. But if Intel wins a contract with Apple, it would mean rival Qualcomm (NASDAQ:QCOM) would lose its exclusive LTE modem spot in the iPhone.

If Intel is able make its way into Apple's most popular device, it would be the second major mobile setback for Qualcomm, following Samsung's decision to pull Qualcomm's mobile processors out of its flagship Galaxy smartphone line. Click on the slideshow below to find out how Intel's latest moves could change Qualcomm's dominance in the mobile space.

Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Apple and Qualcomm. The Motley Fool recommends Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.