British chip maker Imagination Technologies, which lost 70 percent of its value following a dispute with Apple, has put itself up for sale, it was reported on Thursday (via Reuters).

Apple informed Imagination in April that it plans to stop using the company's PowerVR graphics technology over the next two years as it begins using its own in-house chips for products like the iPhone and iPad. The news came as a blow to the firm whose contract with Apple accounts for half its revenue.

imagination technologies logo

"Imagination Technologies announces that over the last few weeks it has received interest from a number of parties for a potential acquisition of the whole group," it said.

"The board of Imagination has therefore decided to initiate a formal sale process for the group and is engaged in preliminary discussions with potential bidders."

When Apple announced it was ending its supply deal with Imagination the British firm's shares plunged 70 percent. Imagination said at the time that it doubted Apple could go it alone without violating patents, intellectual property, and confidential information.

In May the group said it had started a "dispute resolution procedure" with the American tech giant. The company said it was also selling MIPS and Ensigma – two of its three major businesses – in an attempt to shore up cash, allowing for a renewed focus on its PowerVR graphics technology. Imagination said on Thursday that it had received proposals for both businesses.

Apple has been a licensee and stakeholder in the company since at least 2008, and became a key investor in mid-2009 after raising its stake in the firm to 10 percent. Apple was reportedly in "advanced talks" to acquire Imagination Tech late last year after the British chip maker announced job cuts.

Despite confirming the talks, Apple later decided not to make a buyout offer, and instead recruited several Imagination employees as part of its efforts to build an in-house graphics team.

Top Rated Comments

macs4nw Avatar
105 months ago
Isn't that now at least two companies Apple has destroyed by removing business?
Unless joking, if companies lack the basic business skills to not make themselves wholly dependent upon a single company to thrive, or even survive, it's unreasonable to fault Apple for these companies' eventual demise.

Dealing with such large customers exclusively, while comfortable initially, brings insecurity and great risks long term.
Score: 18 Votes (Like | Disagree)
macs4nw Avatar
105 months ago
I merely think it's heavy handed of them.
I understand your frustration seeing you are from the UK, but unless Apple's behavior was decidedly predatory, it's just business, and business is unforgiving of mistakes, miscalculations, or missed opportunities. Eat or be eaten.
Score: 11 Votes (Like | Disagree)
576316 Avatar
105 months ago
Isn't that now at least two companies Apple has destroyed by removing business?
Score: 9 Votes (Like | Disagree)
Ramchi Avatar
105 months ago
Another Apple supplier, partner, vendor drained out for heavy concentration on Apple. Hope other vendors, suppliers, strategic partners take note and hedge accordingly
Score: 9 Votes (Like | Disagree)
Nozuka Avatar
105 months ago
Is this really a dispute with Apple? Seems like Apple gave them a couple years notice that they wouldn't be using their GPUs so they could focus on in-house designs—designs will likely benefit the machine learning they're building into their A-series chips.

Sure, this sucks for Img Tech, but that's business. I don't think Apple has any ill will toward them and still has a 15%(?) take in the company so if Img Tech can succeed then that benefits Apple.
This. Apple has no obligation to this company.. It's normal to switch suppliers or start producing your own stuff.

Most people keep buying their stuff wherever it is the cheapest too. How many local stores died because of it?
Score: 8 Votes (Like | Disagree)
ImperfectLion Avatar
105 months ago
Apple wanted to buy Imagination, but it was really expensive.
Now they are cheap and Apple will buy the company and start developing "in house chips" xD
Score: 7 Votes (Like | Disagree)

Popular Stories

iphone 16 pro ghost hand

5 Reasons to Skip This Year's iPhone 17 Pro

Thursday July 10, 2025 4:54 am PDT by
Apple will launch its new iPhone 17 series in two months, and the iPhone 17 Pro models are expected to get a new design for the rear casing and the camera area. But more significant changes to the lineup are not expected until next year, when the iPhone 18 models arrive. If you're thinking of trading in your iPhone for this year's latest, consider the following features rumored to be coming...
apple wallet drivers license feature iPhone 15 pro

Apple Says iPhone Driver's Licenses Will Expand to These 8 U.S. States

Tuesday July 8, 2025 11:26 am PDT by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Unfortunately, this feature continues to roll out very slowly since it was announced in 2021, with only nine U.S. states, Puerto Rico,...
macbook pro blue green

M5 MacBook Pro No Longer Coming in 2025

Thursday July 10, 2025 12:38 pm PDT by
Apple does not plan to refresh any Macs with updated M5 chips in 2025, according to Bloomberg's Mark Gurman. Updated MacBook Air and MacBook Pro models are now planned for the first half of 2026. Gurman previously said that Apple would debut the M5 MacBook Pro models in late 2025, but his newest report suggests that Apple is "considering" pushing them back to 2026. Apple is now said to be...
iPhone 17 Pro in Hand Feature Lowgo

Leaker Reveals Amount of RAM in iPhone 17 Through iPhone 17 Pro Max

Wednesday July 9, 2025 8:08 am PDT by
Three out of four iPhone 17 models will feature more RAM than the equivalent iPhone 16 models, according to a new leak that aligns with previous rumors. The all-new iPhone 17 Air, the iPhone 17 Pro, and the iPhone 17 Pro Max will each be equipped with 12GB of RAM, according to Fixed Focus Digital, an account with more than two million followers on Chinese social media platform Weibo. The...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
Foldable iPhone 2023 Feature 1

Foldable iPhone Display Production Begins Ahead of Launch Next Year

Wednesday July 9, 2025 10:59 pm PDT by
Production of foldable OLED displays for Apple's first foldable iPhone have begun ahead of its expected launch next year, Korea's ETNews reports. The first foldable iPhone's displays are being produced by Samsung Display, who are establishing a production line dedicated to the upcoming Apple device its A3 factory in Asan, Chungcheongnam-do. The production line will make displays exclusively...
apple tv 4k new orange

New Apple TV Expected Later This Year With These New Features

Saturday July 12, 2025 3:09 pm PDT by
A new Apple TV is expected to be released later this year, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the next Apple TV, according to rumors. Rumors Faster Wi-Fi Support The next Apple TV will be equipped with Apple's own combined Wi-Fi and Bluetooth chip, according to Bloomberg's Mark Gurman. He said the chip supports ...
iphone 16 pro pro max

iPhone 17 Pro Models With BOE Displays Will Be Sold in China Only

Thursday July 10, 2025 11:59 pm PDT by
iPhone 17 Pro and iPhone 17 Pro Max models with displays made by BOE will be sold exclusively in China, according to a new report. Last week, it emerged that Chinese display manufacturer BOE was aggressively ramping up its OLED production capacity for future iPhone models as part of a plan to recapture a major role in Apple's supply chain. Now, tech news aggregator Jukan Choi reports...