“When the iPhone supplier Imagination Technologies Group Plc announced in April that Apple Inc. would no longer be using its graphics technology, investors in the small U.K. company were shocked. The graphics provider’s stock collapsed more than 60 percent,” Adam Satariano reports for Bloomberg. “But while investors were caught off guard by the move, Apple said Imagination had known for nearly two years that it was winding down the relationship.”

“Apple first informed Imagination in late 2015 that it would no longer be buying the U.K. company’s latest technology, Apple said in a statement to Bloomberg,” Satariano reports. “It continued using its older systems.”

“Imagination’s shares fell as much as 8 percent in London trading. The company said it disclosed the change of its relationship with Apple on April 3 ‘when it had sufficient clarity on Apple’s position,'” Satariano reports. “The timing of Imagination’s disclosure about losing Apple’s business will ‘almost certainly’ be reviewed by government regulators, said Tim Aron, a barrister who specializes in financial law and previously worked for the U.K.’s Financial Conduct Authority.”

“Imagination has questioned whether Apple can develop new graphics technology without using its intellectual property,” Satariano reports. “Responding to the allegations, Apple said it’s been using less and less of Imagination’s technology in recent years and that the supplier would have no way of knowing how its future products are designed.”

MacDailyNews Take: Imagination. We lack it.™

Read more in the full article here.

MacDailyNews Take: Ah, it’s impossible to look away from the slowmotion train wreck that is Imagination Technologies.

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