An already bad situation may have been made even worse for this jilted Apple supplier.
News & Analysis: IMAGINATION TECH GRP PLC
This outgoing Apple supplier has to sell itself because its business is no longer sustainable, but the company still had some interesting things to tell investors in a recent investor presentation.
This jilted Apple supplier needs to move on.
The graphics-chip designer is on the auction block.
This Apple supplier got some devastating news two months ago and is now trying to sell itself to rebuild shareholder value.
A few candidates that came up in the past could be buyers of this once-again-for-sale technology asset.
Apple is known for playing hardball with its suppliers, but it's unlikely that Apple plans to ditch Imagination Technologies as a supplier to be able to buy the company on the cheap.
After disclosing that Apple doesn't plan to use its graphics technology going forward, this semiconductor intellectual property vendor is planning to shed its non-graphics businesses.
It might be game over for Imagination's PowerVR now that a key customer is abandoning the tech.
Brain drain is a significant risk for this Apple supplier.