Slower smartphone sales lead Imagination to trim forecast

03/7/2014 | Reuters

Slowing sales of high-end smartphones caused Imagination Technologies Group to reduce its 2014 forecast, saying licensees of its CPU and graphics processing unit designs will ship 520 million to 550 million units this year, compared with a previous estimate of 580 million to 630 million units. FinnCap analyst Lorne Daniel said, "Our real concern is that we only see the scenario deteriorating further as Imagination lacks the cash and scale to match its key rivals in ferociously competitive CPU and GPU markets."

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