The only people who could make a go of MIPS now, I think, are the Chinese. They keep on making noises about making their own processors using Chinese owned IP -- the latest was a few days ago -- but the feeling I get is that they would prefer to go with something totally new, and invented and designed in China rather than simply buy ownership of an existing IP.
i dont know what was in Shingles mind....perhaps he was thinking in 2010 that at the stage of IMG'S development it was imperative that r&d was front loaded with cash and nothing else mattered as much.Seem's right to me.As it turned out the progress in market share failed.But a lot of analysts at the time and for long after were pro the company.[hindsight's a great tool] Much as they are today about Arm holdings...tho as with IMG there are the dissenters who think that Arm will lose traction because the iot will not compensate for lost smart phone sales...happily at the moment Arm seem to grip all the opportunities that are presenting themselves.As for Img..well i don't know many instances where a board has been cleared in one fell swoop...and that won't be helpful or necessary:but there can be no doubt that a change of direction is now planned and the small shareholder won't figure much in the decision making.The big player's will either back the new management or no......but the reality is the broad plan is already decided and the new ceo will come in to implement.He will trim round the edges...but the way forward based on a pragmatic view of the market and IMG'S place in it will be understood right now.
I always thought the product range was great, but we could not or would not spend the necessary money to build a brand and entice the public. We now need to sell Pure quickly, because the product range has to be kept fresh. I used to have such high hopes for IMG, but it has become like an AIM company, constantly spouting hot air.
If a Chairman says to his shareholders 'I've got better things to do with our money than pay dividends to shareholders', then unwittingly he is saying 'but in return the share price will rise above average market trend'.
Unless my eyes and Google/finance deceive me, the IMG share price is one third today of its average or so during Year 2000. The BoD have quite simply failed their shareholders big time. They have often winged one excuse after another such as 'its been a difficult year for everyone ....' or 'order book is good, next year will be a bumper' or 'we had to finance buying MIPS'. 16 years later, what have we got.
Shareholders should be proactive here and vote the entire BoD out. They simply don't have a plan that will profitably build the business. And, quite frankly, a plan is very much needed.
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