Digital radio manufacturer Pure’s parent company Imagination Technologies has responded to press speculation about the future of the brand.
Having recently issued a profit warning to investors, Imagination Technologies released a statement, in which it “notes the recent press coverage”, and states that its options are under review.
“As stated at the time of the half-year result in December 2015, the Group recognises the challenges it is facing given the current economic backdrop of the industry in which it operates,” the statement read. “The Group is already and actively controlling the investments that it is making to minimise opex [operating expense] growth. Imagination continues to monitor the industry situation and will take further actions as and when necessary.”
It added: “Pure’s prime focus is now the growing digital radio market and its financial performance is improving rapidly. The Group is reviewing its strategic options for this business.”
In an article published January 24, The Sunday Times suggested that Imagination will look to sell Pure and its UK headquarters at Kings Langley (pictured) in order to cut costs and balance its books.