Jun 22, 2017

Imagination Technologies put up for sale amid Apple row

UK chip designer Imagination Technologies - which is in dispute with Apple, its largest customer - has put itself up for sale. Shares in the company more than halved in April when Imagination said that Apple would stop using its products. Imagination said it had received interest from suitors in recent weeks so had begun a formal sale process. In April, Imagination said that Apple, which accounts for about half of Imagination's revenues, would stop using its products in "15 months to two years". Last month, Imagination announced it had started a dispute resolution procedure with Apple over licensing payments.

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