Shareholder dissatisfaction with bosses at Imagination Technologies

Billy Bambrough
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Smartphone chip maker Imagination Technologies has been suffering due to slowing mobile phone sales (Source: Getty)

Troubled mobile chip maker Imagination Technologies, which counts Apple among its top shareholders, is facing mounting criticism from investors following the firm's share price tumbling 50 per cent in two months.

At the close on Friday the share price was trading around 135p, down from 247p in October. The share price hit highs of 712p in 2012.

Last week the company issued a profit warning due to weak smartphone sales in the first half of the year, the stagnating PC market and a glut of hardware in China.

There is speculation that chief executive Sir Hossein Yassaie, who has headed the company since 1992 could be ousted during meetings with prominent shareholders this week, it was reported in the Sunday Times.

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