Imagination Technologies, the British chip designer that provides PowerVR graphics processors for use in the iPhone and iPad, has said that Apple will no longer be licensing its technology in less than two years’ time. In a statement, Imagination says that Apple has notified the company that it’s “working on a separate, independent graphics design in order to control its products and will be reducing its future reliance on Imagination’s technology.”
The development is a major blow for Imagination, which relies on Apple for about half of its revenue and will now stop receiving royalties on iPhone and iPad devices within 15 to 24 months from now. Apple currently holds more than 8 percent of the company; the Financial Times reported a year...
