"We wanted a unique architecture we could sell into the console, arcade and PC markets and accumulate a huge number of software titles, " says Hirokazu Hashimoto, president of NECElectronics in Santa Clara, California, who's in charge of the PowerVR.
But minority shareholders in NECElectronics did not seem to have anticipated this kind of activity, and they earned post-listing returns that were well below those of the aggregate stock market, and well below the returns earned by shareholders of the parent company.