Dropped Apple supplier Imagination Technologies said there's been 'no progress' in its dispute with Apple
Imagination said in April that Apple had decided to develop its own graphics chips and would no longer use Imagination's processing designs in 15 months to two years time, sending its shares down 70 percent on the day.
The company, which put itself up for sale last month, said it returned to profitability in the year to end-April, with reported operating profit of 7.8 million pounds ($10.1 million) against a loss of 26.8 million pounds a year earlier.
Chief Executive Andrew Heath said: "Apple's unsubstantiated assertions and the resultant dispute have forced us to change our course, despite the clear progress we have been making."
($1 = 0.7727 pounds) (Reporting by Paul Sandle; editing by Jason Neely)
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