What you need to know
- Apple and Samsung chip designer Imagination has scheduled an emergency board meeting next week.
- That's over fears that a state-controller Chinese investor is trying to seize control of the company.
- Imagination makes GPUs for Apple and Samsung, and its designs feature in 30% of the world's smartphones.
Apple and Samsung chip designer Imagination has scheduled an emergency board meeting after it emerged that a state-controlled Chinese investor is trying to seize the company.
According to a report from Sky News (opens in new tab):
The report claims that senior MPs in the UK have also been alerted to the move, and plan to lobby Prime Minister Boris Johnson over the weekend "to intervene on the grounds of potential risks to national security." UK intelligence agency GCHQ and the National Cyber Security Centre have also been made aware of the development.
As the report notes:
Imagination signed a new multi-year license agreement with Apple earlier this year. In an announcement it stated:
The report continues:
The report also notes that this would "compound deepening fears" about the speed of 'technology transfer' to China and that the move "appeared to be timed to coincide" with the COVID-19 pandemic, described as "the point of maximum distraction" for ministers. In relation to a letter sent to Prime Minister Boris Johnson one source commented:
You can read the full report here. (opens in new tab)
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Damn China at it again trying to steal IP
Perhaps the board of directors shouldn't have sold the whole company to Canyon Bridge, a China aligned private equity fund, in 2017 then.
You reap what you sow.
Go China. Fighting fire with fire 🔥
Go China!!! Think the Taiwanese share your sedement. China such a great country let's root for them cause of a phone brand. Don't worry I know you know it all.
Yay communist country!!!
Well, at least they're acquiring IP legally for a change. And countries the world over have already determined China is not a threat to national security.
Yeah acquiring forcefully
The decline of Western civilization continues... First, the West willingly exported manufacturing to China. No surprise China now wants ownership of the West.
Yup, cause they can't go ahead without copying and stealing western technology. They are where they are just from doing that and will continue bec western civilization is way ahead in developing new technologies
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