26th Jul 2006 07:01
Imagination Technologies Group PLC26 July 2006 Imagination Technologies Group plc AGM Statement At the Annual General Meeting of Imagination Technologies Group plc today,Chairman Geoff Shingles will make the following comments to shareholders: "During the last year our technology licensing business has begun to demonstratereal strength, achieving volume and royalty growth across a number of markets.Following on from the quadrupling of royalty volumes last financial year to11.9m units, which was accompanied by a significant increase in royaltyrevenues, we expect to see chip volumes continue to increase markedly in thecurrent financial year as more partner chips get into volume production and alsoas the existing devices ramp up. With our graphics and video technologies already deployed in over 30 handsets,the success we have seen with mobile handset shipments in Asia is now beingfollowed with the first shipments of phones in the USA and Europe, frommanufacturers including Sony Ericsson. We expect this to be complemented byfurther growth in the digital radio/audio and advanced car navigation/information markets, where we have already achieved market leading positions, aswell as in the Mobile TV handset and LCD TV markets, where partner shipmentshave recently commenced. We have now shipped PowerVR SGX IP to lead licensing partners, enabling Intel,Renesas and NEC to begin integration of the core into their future chips. We arealso seeing an increasing number of new and existing partners seriouslyevaluating this technology, with a number of negotiations already underway.There has also been a significant increase in the number of licensing prospectsfor our Mobile TV technologies. This is driven by both acknowledgement of theimportance of this market by more companies and the realisation thatmulti-standard support, which our technology efficiently provides, is highlydesirable and becoming essential for this emerging market. We therefore expectto see further progress here. One feature that has developed is the increasingly strategic nature ofdiscussions with some of our existing partners who are depending on us inimportant areas and are looking to utilise our technologies more widely acrosstheir mainstream product lines and see us as a very key technology provider. As market leader, our PURE Digital brand continues to make real progress in thedigital radio and digital audio market. Revenues to date in this financial yearfor our PURE business are markedly ahead compared to the same period last yeardue to extensive ranging with leading retailers and strong new product offeringsin the higher-end and mainstream digital radio segments. As a result we expectanother strong year ahead for PURE. Whilst the timing of licensing deals is difficult to predict accurately, in thelight of the above developments in our technology and consumer business weexpect to see good progress in the current financial year." 26 July 2006ContactsImagination Technologies Group plc 01923 260511Geoff Shingles, ChairmanHossein Yassaie, CEOTrevor Selby, CFO College Hill 020 7457 2020Adrian DuffieldNick Elwes This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Imagination Technologies Group