SINGAPORE - Toshiba will withdraw from the television and appliances market in Singapore at the end of May due to strong market competition.
Chinese evening newspaper Shin Min Daily News reported on Thursday that Toshiba Singapore had recently sent a notice to its retailers, announcing that some products will be withdrawn from the local market.
Reporters from the Chinese daily checked with several retailers and they understand that the retailers received the notice via e-mails and letters a few weeks ago.
Toshiba said that due to a highly competitive environment in Singapore, they had to make an "extremely difficult" decision to withdraw from the local television and appliance market.
In a statement, Toshiba said after-sales customer service will continue until further notice.
Small retailers have expressed concerns over Toshiba's exit.
A retail shopowner said about half of her electrical products are from Toshiba and several of her regular customers are fans of the Japanese brand.
She also said small retailers are not doing well now and Toshiba's withdrawal will add to the problem.
One industry insider said that regardless of technical specifications, South Korean products are slightly better in comparison.
Shin Min reported that a Toshiba spokesman was unable to provide further information about their withdrawal.