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NEC pulls out of retail market

NEC has confirmed it is pulling out of the local retail market in a "strategic restructure" making it the fourth TV manufacturer to pull out of Australia in the past year.

NEC has confirmed it is pulling out of the local retail market in a "strategic restructure" making it the fourth TV manufacturer to pull out of Australia in the past year.

"As a result of the restructure, NEC Australia will cease its retail offerings as of 1st March 2009 including white goods, consumer appliances, home entertainment as well as consumer LCD and Plasma TVs", NEC said in a press release.

NEC Australia said it would continue to offer warranty and extended support to existing customers.

Times are tough in the flat panel business with Fujitsu, Philips and Hitachi all pulling out in the last 12 months, and companies such as Pioneer undergoing significant lay-offs.

Wataru Takeuchi, managing director, NEC Australia said: "This move forms part of our strategic evolution towards redefining NEC Australia as a business services company. As such, a decision has been made to withdraw our retail products in order to focus our resources and energy on our key strengths which are our business offerings and our Research and Development capabilities."