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Contract dispute: Apple fires back at supplier

The graphics provider, Imagination Technologies Group's stock collapsed more than 60%

Adam Satariano | Bloomberg 

When the iPhone supplier Imagination Technologies Group announced in April that Apple would no longer be using its graphics technology, investors in the small UK company were shocked. The graphics provider’s stock collapsed more than 60 per cent. 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 UK company’s latest technology, Apple said in a statement to Bloomberg. It continued using ...

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First Published: Sun, July 09 2017. 02:14 IST