Imagination Technologies is hoping to reach a new deal
Imagination Technologies has opened up a dispute with Apple over the firms use of its technology in the iPhone, this comes after both sides were unable to come to any agreement.
The chip designer said it had “commenced the dispute resolution procedure” and is hoping to reach a new deal when Apple cuts its contract.
Imagination is also selling two of its three major businesses in an effort to get some extra cash.
Last month Apple revealed that it would stop using Imagination technology in two years’ time as it looks to create its own.
This has meant the chip maker has felt the pressure as its relies on Apple for half of its revenues.
Imagination hopes to reach an amicable agreement going forward.
The current dispute doesn’t involve any legal action but it’s the formal process for reaching an agreement on the contract the two companies have between one another.
Imagination said: “Imagination has been unable to make satisfactory progress with Apple to date regarding alternative commercial arrangements for the current licence and royalty agreement,”
“Imagination has therefore commenced the dispute resolution procedure under the licence agreement with a view to reaching an agreement through a more structured process. Imagination has reserved all its rights in respect of Apple’s unauthorised use of Imagination’s confidential information and Imagination’s intellectual property rights.”
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