Toshiba pulls out of Russian consumer electronics market as Koreans mop up

15/12/2015

Russians in TV store

The weak rouble and increasingly stiff competition from Korean competitors has prompted Toshiba to pull out of the Russian consumer market.The Japanese electronic giant has announced that it is shutting down its TV and kitchen appliance division Toshiba CIS but that its B2B unit Toshiba Rus would carry on operating.
 
Korean companies now accounted for 70% of the Russian TV , Toshiba Rus CEO Tezuka Hiroaki said.