Imagination Tech warns on profit as smartphone market softens

By Paul Sandle LONDON (Reuters) - Imagination Tech, the British company whose graphics power Apple's iPhone, warned on profit on Tuesday, saying red-hot demand for smartphones had cooled. Shares in the group, which has both Apple and Intel on its shareholder register, fell to a six-year low after it reported weak first-half numbers and said it would miss profit forecasts for the year. Chief Executive Hossein Yassaie called the performance "disappointing", saying it reflected a slowdown in the ov