Toshiba closed sales of TV sets in Russia
14.12.2015 272 views
The Japanese company has completed restructuring of its business in Russia and stopped selling kitchen appliances and TV sets.
According to the company, the corporation definitely left the Russian market and shipped the last products for retail chains in December. Toshiba Rus CEO Hiroaki Tezuka noted that LG and Samsung were their main competitors in this segment. It was not as easy to work on the Russian market, he added.
In Russia, Toshiba was represented by two companies - Toshiba CIS and Toshiba Rus. Liquidation of the first, which sold audio, video and home appliances, started as early as June, explained Vladimir Maximov, Head of PR & New Business at Toshiba Rus. The company was also responsible for b2b-contracts and for the activities of the Power Machines joint venture that produced high-voltage transformers.
"The corporate management is reading negative news from Russia, so it is difficult to persuade them to invest in the business," - said Hiroaki Tezuka.
JETRO Chief Representative Kunihiro Nomura noted that Toshiba had not yet reported their exit from the Russian market.
"It is up to each company to decide, because the Russian economy is in crisis and getting worse. Naturally, companies make some reductions,"- said Nomura. In July, Toshiba President Hisao Tanaka and seven top executives resigned after the scandal with the company reporting. Board Chairman Masashi Muromachi became Acting President.
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