Imagination Tech shares plunge as Apple abandons British firm


  • TECH
  • Monday, 03 Apr 2017

Apple is developing its own independent graphics processing chips.

LONDON: Apple has given Imagination Tech notice that it will stop using its graphics technology in the iPhone and other products in up to two years' time, dealing a major blow to the British company, which could lose half of its revenue.

Shares in Imagination, in which Apple holds an 8% stake, plunged by 65%.

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