I see, but why others like Qualcomm are doing it then? They are OK with low margins?
You need a modem if you want to make a smartphone. And Qualcomm makes sure to, first, make some parts of the modem a part of their SoC, and second, never give a better deal on a standalone modem than on a modem and SoC combo.
Sure, AMD could make their own modem, but it took Apple ages to develop a modem in-house. And AMD could partner with someone like Mediatek and use their hardware - but, again, that would require Mediatek to prop up their competition in SoC space, so, don't expect good deals.
I would prefer them to start with WiFi though, since Intel made their latest chips impossible to use with AMD CPUs.
That didn't work out well when Intel tried it.
I agree though that Qualcomm is causing a lot of anti-competitive problems.