April 03, 2017 // By Peter Clarke, eeNews
Processor IP licensor Imagination Technologies Group plc has said that it has been notified by Apple, its largest customer, that Apple will stop using Imagination's intellectual property within the next fifteen months to two years.
Apple also served notice that as a result, it intends to stop making royalty payments, Imagination said in a statement. Imagination's stock price on the London Stock Exchange fell by more than 60 percent.
This follows on from the exclusive story that Apple had been hiring several Imagination GPU design engineers in the second half of 2016 (see Apple hires group of UK GPU engineers ).
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