Chip designer Imagination Tech sees licensing delays

LONDON, March 12 Tue Mar 12, 2013 3:22am EDT

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LONDON, March 12 (Reuters) - British chip designer Imagination Technologies said the signing of some new licences was being delayed due to structural changes at its chipmaking partners, particularly in Japan.

The company, whose graphics and video processing is used in Apple devices, said in a trading update on Tuesday that royalty revenues remained in line with its expectations.

It said it was confident its partners would ship more than 500 million chips containing its technology in the current financial year.

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