25th Jan 2016 07:46
LONDON (Alliance News) - Chip-designer Imagination Technologies Group PLC said Monday it is reviewing strategic options for its consumer audio products division Pure.
The update came after a report in The Times on Monday which said the company was set to sell the loss-making division.
The company noted the recent press coverage, and said that, as it had stated at its interim results in December, it "recognises the challenges it is facing given the current economic backdrop of the industry in which it operates."
Imagination said it was already "actively controlling the investments that it is making" to minimise operating expenditure growth. It continues to monitor the "industry situation", and will "take further actions as and when necessary."
On the Pure business, Imagination said that its primary focus is now on the growing digital radio market, and noted that Pure's financial performance is improving rapidly.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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