Owner could put loss-making Pure Digital up for sale

Imagination Tech, the British chip designer whose shares are languishing at six-year lows after a profit warning in December, said it was reviewing strategic options for its loss-making Pure digital radio business.

Monday, 25th January 2016, 10:19 am
Updated Monday, 25th January 2016, 10:24 am
Undated Handout Photo of Evoke Mio Union Jack special edition digital radio, £149.99, Pure. See PA Feature INTERIORS Jubilee Homes. Picture credit should read: PA Photo/Pure. WARNING: This picture must only be used to accompany PA Feature INTERIORS Jubilee Homes.

Chief executive Hossein Yassaie has previously said Pure had wider value for Imagination as a test bed for its technology.

Sign up to our daily newsletter

The i newsletter cut through the noise

A report in the Sunday Times said the unit could be sold to cut costs and strengthen the group’s balance sheet.

“Pure’s prime focus is now the growing digital radio market and its financial performance is improving rapidly,” the Apple-supplier said on Monday.

“The group is reviewing its strategic options for this business.”