Imagination Says Sale Talks Continuing After Losing Apple
- Graphics supplier returned to profitability after job cuts
- Apple accounts for more than half of Imagination’s sales
An Apple Inc. iPhone 7 stands on display at KT Corp.'s Olleh Square flagship store in Seoul, South Korea, on Friday, Oct. 21, 2016. Samsung Electronics Co. will be without its highest-end Galaxy Note 7 smartphone that was supposed to compete against Apple's iPhones and other premium devices during the holiday shopping season.
Imagination Technologies Group Plc said it continues to hold preliminary talks with potential buyers as the company looks to sell itself after Apple Inc. said it would stop using its graphics technology.
Imagination, which gets more than half its sales from Apple, announced last month that it was initiating a formal sale process. The company makes chips used for displaying graphics in games and apps in iPhones and other devices.