- Apple (NASDAQ:AAPL) disputes claims that a graphics supplier only in learned in March that the iPhone maker was ending the partnership.
- Imagination Technologies (OTCPK:IGNMF) shares plummeted 60% in April when the company announced Apple would stop using its graphics chips in favor of in-house tech.
- Apple tells Bloomberg that Imagination knew back in 2015 that Apple wouldn’t start using its newer products. The company then requested lower royalty payments to reflect the dwindling relationship.
- In February, Apple told Imagination about the planned switch to in-house supplies and ending royalty payments by early next year.
- Apple’s statement could make U.K. government regulators investigate the timing of Imagination’s disclosure.
- Imagination Technologies shares are down over 2%.
- Previously: Former Apple supplier Imagination Technologies goes up for sale (June 22)
- Now read: Apple Begins A New Chapter In India
Original article