Imagination Technologies benefits from new product launches

Imagination Technologies Group said it has experienced a robust performance in the first half of the year as revenues have grown in line with expectations.

Imagination Technologies Group said it has experienced a robust performance in the first half of the year as revenues have grown in line with expectations.

In a trading update, the multimedia, communications and processor technology company revealed an increase in royalty revenues on the back of demand for smart phones and tablets and customers launching new products.

Samsung's Exynos 5410 Octa now incorporates Imagination's PowerVR SGX544MP core.

Imagination's system on a chip has also been picked up by Allwinner, Altair, Ceragon, Ingenic, Intel, LG, MediaTek, Renesas, SiS, ST and TI.

Licensing activity remains steady with extensive on-going interest and activities across the company's technologies.

"We continue to make good progress with volume ramp up across many of our existing technologies, as more of our licensees bring our latest technologies to market in increasing volumes," said Chief Executive Hossein Yassaie.

"At the same time we are making the necessary investments in essential complementary technologies to fuel our continued long-term growth."

However, the firm said macro-economic uncertainty has created caution among customers, impacting project timing and licensing.

The licensing pipeline remains active despite the uncertainties over the timing of deal closures, particularly as some semiconductor companies in certain regions undergo structural and business changes.

Looking ahead, the firm expects to benefit from further product launches from customers. Unit shipments for this year are forecast to exceed 500m units.

Shares fell 0.19% to 529.00p at 09:07 Tuesday.

Recommended

Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022
These 3 top value stocks offer
Share tips

These 3 top value stocks offer

Professional investor Adam Rackley of Cape Wrath Capital highlights three overlooked value stocks to buy.
29 Sep 2022
Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022

Most Popular

Why everyone is over-reacting to the mini-Budget
Budget

Why everyone is over-reacting to the mini-Budget

Most analyses of the chancellor’s mini-Budget speech have failed to grasp its purpose and significance, says Max King
29 Sep 2022
How the end of cheap money could spark a house price crash
House prices

How the end of cheap money could spark a house price crash

Rock bottom interest rates drove property prices to unaffordable levels. But with rates set to climb and cheap money off the table, we could see house…
28 Sep 2022
Why UK firms should start buying French companies
UK stockmarkets

Why UK firms should start buying French companies

The French are on a buying spree, snapping up British companies. We should turn the tables, says Matthew Lynn, and start buying French companies. Here…
28 Sep 2022