Way back on Sept. 7 we linked to an item that conjectured Apple might be the secret licensee of PowerVR technology. Well, the conjecture is now confirmed according to MacRumors:
Apple is "subscribing for" 8,200,000 new shares of Imagination Technologies Group which means Apple will have an ownership interest of 3.6% in the company. The press release also reveals that Apple is a licensee of Imagination's technology.
What does this mean for the iPhone? That Apple is likely Spinning Custom “PA Semi” ARM Chipset for Next Gen iPhone!