When Apple dropped Imagination Technologies as a supplier for iPhone technology, the British chip designer’s shares plunged up to 69% and the company ultimately accepted a buyout.

When Apple dropped Imagination Technologies as a supplier for iPhone technology, the British chip designer’s shares plunged up to 69% and the company ultimately accepted a buyout.

Chipmaker Qualcomm —which has a significant presence in Cork — has attracted a mega bid that values the giant chip maker at $103bn (€89bn), setting the stage for a major takeover battle that would rock the electronics industry.

Qualcomm, which makes chips for mobile phones, faces fines of €580,000 a day after losing a court bid to block an EU order requiring it to supply information for a competition probe into the company’s sales tactics.