“The British firm that supplied the designs for Apple’s graphics chips is up for sale, less than three months after the maker of the iPhone said it would no longer use those designs and would instead come up with its own,” Joon Ian Wong writes for Quartz. “That announcement was made public by the firm, Imagination Technologies, on April 3.”
“Imagination’s stock crashed nearly 70% on the day the news hit, and the stock has traded roughly in that range ever since,” Wong writes. “But today the stock shot up about 17% as investors were told of a possible sale. The company said it had received interest from several buyers, and so would start a formal sale process today.”
Wong writes, “All told, there were just 81 days between the news that Apple planned to stop using Imagination’s designs and today’s sale announcement.”
Read more in the full article here.
MacDailyNews Take: As John Wayne said so well:
Life is tough, but it’s tougher if you’re stupid.
SEE ALSO:
Former Apple supplier Imagination Technologies puts itself up for sale – June 22, 2017
Imagination Technology starts dispute process with Apple – May 4, 2017
UBS: Imagination likely to see Apple royalties slashed, then cease altogether – April 19, 2017
It’s getting even tougher to be an Apple supplier – April 19, 2017
Without Apple, Imagination Technologies’ PowerVR has no future – April 10, 2017
Apple steps up homegrown GPU plans with London hiring spree – April 9, 2017
Why Apple’s ditching of Imagination is critical for the future of the iPhone – and maybe even the Mac – April 5, 2017
Apple aims for more control, less cost as it accelerates in chip design – April 5, 2017
Apple could look to buy Imagination Technologies after ditching the chip firm, share price plunge – April 4, 2017
Imagination Technologies’ shares collapse after Apple dumps UK chip designer – April 3, 2017
Apple nabs top talent from iPhone 7 GPU chipmaker Imagination Technologies – October 13, 2016
After failed takeover talks with Apple, Imagination Technologies sells stake to state-owned Chinese company – May 9, 2016
Apple in ‘advanced talks’ to acquire Imagination Technologies for PowerVR GPU – March 22, 2016