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