Apple Inc is to stop using the intellectual property of Imagination Technologies Group PLC for its new products, a setback for the UK chip designer that counts the iPhone maker as its largest customer.
Apple has informed the British company that it will cease using its technology for new products in 15 months to two years, a statement said yesterday.
The move means Imagination risks losing future royalty payments from Apple.
However, Imagination said it believes Apple will struggle to avoid infringing its intellectual property rights.
“Apple has not presented any evidence to substantiate its assertion that it will no longer require Imagination’s technology, without violating Imagination’s patents, intellectual property and confidential information,” Imagination said in the statement.
Imagination and Apple are in talks over future license and royalty agreements.
The British company received £60.7 million (US$76 million) in license fees and royalties from Apple in the year ended April 30, 2016, and expects to get £65 million in such payments in the fiscal year ending this month, according to the statement.
The British company’s revenue for last fiscal year was £120 million.
In early 2014, Imagination said it had extended its multiuse license agreement with Apple for its range of current and future graphics and video chips.
Imagination was previously an acquisition target for Apple. In March last year, the US company said it had held “some discussions” with Imagination, but did not have plans to make an offer at that time.
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