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Imagination Technologies' shares fall after termination of the contract with Apple

Imagination Technologies shares fell by nearly 70% after another tech giant, Apple said that it wants to complete a deal with the company.

This move by Apple the largest Imagination's customer means the loss of lucrative payments.

Company Imagination Technologies announced that Apple will stop using their product for about 15 months to two years.

Apple is developing its own technology, but Imagination said that it will be difficult without infringing patents.

Around half of the revenue, Imagination receives from the Apple.

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  • avatar-1734
    • #

    As I know Apple wanted to buy Imagination Technologies.

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