Apple GPU supplier Imagination Technologies has reported that it will report a second business year of losses in April. Additionally, partially in response to the terrible results, the company has fired CEO Hossein Yassaie, and will divest itself of its unprofitable music line, Pure.
As part of its announcement, the company noted that it had not had enough interest or signed enough deals for its chips, which includes MIPS chips found in Android phone, “Internet of Things” devices and routers in addition to the PowerVR GPU. Additionally, it pointed to royalties from existing licensees not being as high as the company predicted in financial earnings reports.
First reported PC world, current board member Andrew Heath will be the company’s interim CEO. The company is looking to shed £15 million ($21.6 million) from operating costs in the next fiscal year.
