Imagination Technologies in talks with Indian tech companies

Hyderabad, Feb 3 (PTI) UK-based Imagination TechnologiesLtd, which has acquired Hyderabad-based Hellosoft Inc, said itis engaged in talks with a few early-stage technologycompanies in India to invest and provide solutions to developapplications for devices such as computers, smartphones, mediaplayers and mobiles.

According to Hossein Yassaie, CEO, ImaginationTechnologies the situation in the country is moving fromservice-based to product-based and is ready for competitiveproducts.

"The local market is rapidly growing and we are exploringpotential synergies with early-stage companies and partners.

Imagination Technologies along with technology being developedby Hellosoft, will create IP and license it to semiconductorcompanies, which in turn supply chips to devicemanufacturers," Hossein Yassaie told reporters here.

He said the company is already in talk with a fewcompanies in European companies for a similar tie-up.

"We have already made some investment in some startupcompanies in Europe and acquired 10-15 per cent stake. Also,we supply technology part to those companies," Yassaie said.

He said Imagination Technologies has tied up with severaloriginal equipment manufacturers of tablets, smart phones,mobile phones and media players.

The solutions developed by the company are currently usedin products including Apple iphone, Samsung''s Galaxy, HP''sSlate and several others.

Yassaie said the company is targeting to ship about 200million devices this year alone. The company cumulativelyshipped 400 million devices with solutions by October, 2010.

Speaking about the potential of smart phones, he saidthat going further, the market share of smart phones wouldreach about 50 per cent of the total mobile phone market.

Similarly, tablets, which stood at 40 million last year, arelikely to double to 80 million this year. (MORE) PTI GDK DK

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