Imagination still going strong, though royalty rate eases

The day after the much ballyhooed release of Apple's iPhone5, chip designer Imagination Technologies released a well-timed trading update in which it revealed its business momentum has continued in the new financial year.

The day after the much ballyhooed release of Apple's iPhone5, chip designer Imagination Technologies released a well-timed trading update in which it revealed its business momentum has continued in the new financial year.

"Our partners' product launches in the second half of the last financial year, together with shipments starting for a number of customers for the first time this year, have both contributed to strong growth in unit shipment volumes," the group said in its interim management statement.

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