Apple To Be Parting Ways With Imagination Graphics

Apple has been the largest customer of Imagination Technologies with continuing to rely upon PowerVR graphics IP in their chips, but it looks like that is changing and Apple could be rolling out their own GPUs.

There's long been rumors of Apple working on their own GPU designs for future iPhones/iPads, but it's looking more and more likely now that Apple has let Imagination know they will not be relying upon them in the future. Their issued announcement mentions in part, "Apple is of a view that it will no longer use the Group's intellectual property in its new products in 15 months to two years time, and as such will not be eligible for royalty payments under the current license and royalty agreement."

More details on BBC.com. With Apple being Imagination's largest customer, the company's stock is getting hammered and as of writing is down around 63% today.