What happens when the biggest tech company in the world stops buying your products?

　　想象一下，当全球最大的科技公司停止购买你的产品时会发生什么呢?

　　Imagination Technologies is learning that lesson right now -- and it’s very painful.

　　英国芯片设计商Imagination Technologies就正在经历着这样一幕，并且很痛苦。

　　Apple told the British company it plans to stop licensing the firm’s technology in about two years. As soon as the news came out, Imagination shares plunged by as much as 72%. They’ve recovered slightly since.

　　苹果向这家英国公司提出：计划在未来两年内停止对该公司技术的使用许可。该消息刚一发出就导致了Imagination公司的股份下跌72%，到目前也只是有轻微的恢复。

　　Imagination Technologies owns and licenses intellectual property that helps power the graphics on the screens of Apple’s iPhones, tablets, iPods, TVs and watches.

　　Imagination公司拥有可以加强苹果设备屏幕图形处理性能的知识产权，这些设备涵盖了iPhone，iPad，iPods，电视以及手表。

　　Just over half of the company’s annual revenue comes directly from Apple.

　　该公司有超过一半的年收入来自苹果。

　　In a statement, Imagination said Apple had said it is "working on a separate, independent graphics design in order to control its products."

　　Imagination公司在一篇陈述中说道：苹果正在独立研发图形设计以便于做到更好的品控。

　　But the British tech firm doubts Apple will be able to come up with a standalone solution.

　　但是这家英国技术公司怀疑苹果并不能单独开发出一个解决方案。

　　Apple has not presented any evidence to substantiate its assertion that it will no longer require Imagination’s technology, without violating Imagination’s patents, intellectual property and confidential information, the company said.

　　该公司说道：苹果没有拿出任何可以证实它的主张的证据，苹果坚持不再需要Imagination公司的技术支持，并且不会侵犯Imagination的知识产权及机密信息。

　　Imagination Technologies is now discussing potential alternative sales arrangements with Apple. It’s also looking to diversify its business to serve the mid-range phone market. But investors clearly are panicking about its prospects.

　　Imagination Technologies目前正在和苹果协商潜在的可供选择的销售安排。同时该公司也在将它的产业分散开来以服务那些中端手机市场。但是投资商们肯定会对这家公司的前景产生担忧。

　　The firm was worth almost $1 billion last week. Now its market capitalization has slumped to around $348 million. Apple is also getting hurt. It owns an 8% stake in Imagination Technologies.

　　这家公司在上周市值接近10亿，而现在它的市场资本总额已经下跌到了3.48亿。苹果公司当然也受到了一定程度的损失，因为苹果拥有该公司8%的股份。

　　The firm’s future was looking much rosier less than a month ago when it unveiled brand new graphics technology that could be used in self-driving cars, virtual reality devices and high end smartphones.

　　这家公司在不足一个月前刚刚发布了全新的可用于自驾车，虚拟现实以及高端智能手机的技术，这给公司带来了非常光明的前景。

　　Back then, Liberum analyst Janardan Menon predicted happy days ahead for the company and said shares in the company could rise by about 25% as it began getting its technology into new kinds of devices.

　　当时，英国证券公司Liberum的分析师贾纳丹·梅农预测这家公司将会迎来一个春天，因为公司的技术应用到了新型的设备中会促使股份增加25%。

（编辑：何莹莹）