Imagination said in April that Apple had notified the British firm it was developing its own graphics chips and would no longer use Imagination’s processing designs in 15 months to two years time.

I get why Imagination wants to hang on to Apple, but it makes a lot of sense for Apple to make its own chips. It has the facilities and technical people to make it happen. Doing so means that Apple doesn’t have to pay licensing fees to a third-party, which means it keeps more the money from each sale.