Apple has signed a €521m deal with Dialog Semiconductor to license the UK chip designer’s power management technology and acquire certain assets, including more than 300 staff.

Dialog Semiconductor has said its top customer Apple could build its own power-management chips into future iPhones rather than rely on the Anglo-German chipmaker, sending its shares plunging up to 19%.

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.