Japanese electronics manufacturer Toshiba has announced that it will be withdrawing from the television and electronic appliances market in Singapore by the end of May this year.
It cited strong competition as the reason for its withdrawal. Retailers received an email this week informing them that its products will be withdrawn from the market. However, after-sales services will continue for existing customers.
According to industry insiders, South Korean products have enjoyed an edge over Japanese electronic products because of their better technical specifications in recent years.