One of the largest suppliers of Apple based in the British Isles is Imagination Technology. According to recent reports, this company, which is one of the major suppliers for Apple, has cut down additional costs for its products. Moreover, only last month, they had announced a program to restructure. The main product supplied by this UK based company to Apple is the graphics architecture, PowerVR for the iPads and iPhones. According to the claims of the company, the cost base will be reduced by 12.5 million pounds or $18 million by the month of April in 2017. Moreover, this cost will be cut down in addition to the cost they had cut down just last February, amounting to 15 million pounds. As a result, approximately 200 workers are now redundant, which again increases from the layoffs done by the company.

This decision has being taken by the Imagination Technologies as the growth for iPhone shipments has slowed down drastically these last few months. This step has been taken by the company in order to cope up with their losses and stable their financial state. This, in turn, will allow the company to not only keep their three main businesses running, but will also strengthen them as time passes.

For many years now, the company Imagination Technologies are facing financial crisis. The only reason behind this is that they actually keep on expecting the rise of shipments for Apple iPhones but that didn’t happen at all. The first half of the financial year 2015 was a loss for Imagination Technologies, showing a drop of 10% on their shares. On the announcement of the restructuring last February, the shares further dropped to 18%, making it a drastic change. The company even had to put Pure, the business the company ran on digital radio, up for sale.