Apr 3, 2017

Imagination Technologies' shares plunge after Apple ends contract

Imagination said Apple would stop using its products in about "15 months to two years time". Imagination relies on Apple for about half of its revenues, with the US giant using the UK firm's chip technology in its iPhones, iPads, and iPods under a licensing agreement. The Financial Times reported last year that Apple, which owns 8% of the UK company, had held talks about buying Imagination. In its statement, Imagination questioned whether Apple would be able to develop its own computer chip designs without breaching its intellectual property rights. "Further, Imagination believes that it would be extremely challenging to design a brand new GPU architecture from basics without infringing its intellectual property rights, accordingly Imagination does not accept Apple's assertions."

Read the full story

 Related companies

Make a complaint about Apple by viewing their customer service contacts.