With regard to Apple already having done semiconductor R&D "behind closed doors", this would fit in with the PowerVr licence to an "International Electronics Systems Company" back in July last year. This was the first occasion Imagination Technologies was not in a position to explicitedly mention by name the licence taker, and also the first time their IP was not licenced to a semi-conductor company. it is widely assumed to be Apple, a famously secretive company, licensing PowerVr SGX. Apple currently uses PowerVr MBX in the iphone and itouch via Samsung.
The licence announcement went on to state:-
"The SoCs to be developed under this license agreement will be produced for this new partner by Imagination’s existing semiconductor partners and/or new chip manufacturing partners"
Now at the time I assume this most likely referred to Samsung for a next get Soc for next gen iphones, I'm starting to think otherwise as Samsungs latest chips appears to not be using IMG IP.
Lead time from licence sign to product has been typically 18-24 months for IMG, that points to 1st half of 2009 for product launch if true.