The news rocking the tech industry today is that Apple has informed Imagination Technologies that they will be designing their GPUs in-house. Imagination Technologies is an IP-only company who designs the SGX series of GPUs currently used in all Apple iOS devices, e.g. iPhone, iPad, etc. Apple informed Imagination that in two years they will have no further use of Imagination IP.
Imagination's shares are down 62% today on the news, and they have released a statement where they publicly threaten Apple:
Imagination Technologies Group plc (LSE: IMG,