[June 19, 2013] Imagination lacking on smartphone changes [London Evening Standard] Tweet (Evening Standard (London, England) Via Acquire Media NewsEdge) June 19--Imagination Technologies, the microchip maker that supplies the graphic technology in Apple's iPhone, booked an expected dip in full-year profits today as changes in the smartphone market hit its bottom line. The FTSE 250 firm said pre-tax profits for the year end to April were pounds sterling 34.3 million, down from pounds sterling 36.8 million a year ago. The Hertfordshire-based firm, which also makes Pure DAB radios, warned last month that licensing revenues for the year had fallen a fifth to around pounds sterling 27 million. But the company today said the division came in at pounds sterling 29.1 million, down from pounds sterling 34.4 million last year. Analysts think the slowdown is due to a fall in Apple's iPhone sales and rival ARM Holdings gaining ground. The company has also suffered as a number of its chipmaking customers, such as Renesas and Texas Instruments, have shifted their focus away from smartphones and tablets. Imagination's chief executive Hossein Yassaie was today defiant, saying: "We have established leading positions in two of the fastest growing global markets -- smartphones and tablets. In smartphones we are on course to maintain strong market share, whilst we provide the technology for many of the leading tablets." Berkshire-based business software firm Micro Focus also revealed its full-year results today, announcing a full-year pretax profit of pounds sterling 98.07 million, up from pounds sterling 95.45 million last year. Micro Focus shares were up 48p to 695p and Imagination Technologies added 6.7p to 311.9p. ___ (c)2013 London Evening Standard Visit the London Evening Standard at www.standard.co.uk Distributed by MCT Information Services [ Back To TMCnet.com's Homepage ]