Imagination Tech's profit dips on licensing slowdown

LONDON, June 19 (Reuters) - Imagination Technologies, the British chip designer whose graphics technology isin Apple's iPhone, saw its full-year profit dip, as the markethad expected after a warning last month.

Imagination posted adjusted pretax profit of 34.3 millionpounds ($53.5 million) in the year to end-April, down from 36.8million pounds a year ago, on revenue up 19 percent to 151.5million pounds.

Analysts were expecting about 32 million pounds on thebottom line after they slashed forecasts by nearly 10 millionpounds last month, when the group said it had seen delays insigning licensing deals in the second half.

The company has suffered as a number of its chipmakingcustomers, such as Renesas and Texas Instruments, have shifted their focus away from smartphones andtablets.

Its competitor ARM has also been winning share innext generation smartphones, mobile computers and digital TVs.

Imagination said it had made a good start to the new year,and was on course to see its partners ship more than 650 millionchips containing its technology this year.