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Rio mp3 players discontinued |
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Saturday, 27 August 2005 |
D&M says to shutter Rio digital music player unit
Reuters India, India
NEW YORK (Reuters) - Japanese audio electronics maker D&M Holdings Inc. said on
Friday it will quit the market for portable digital audio players, saying poor
sales of its Rio line was a drag on the company's bottom line.
D&M, the maker of premium audio brands Denon, Marantz and McIntosh, said it will
get out of the market for the pocket-sized music players by Sept. 30. The sector
has been dominated by Apple Computer Inc.'s iPod line.
"(The) decision to shut down the Rio business followed a determination that the
mass-market portable digital audio player market was not a strong enough
strategic fit with the company's core and profitable premium consumer
electronics brands to warrant additional investment in the category," the
company said in a statement.
D&M Holdings, Rio's parent company, said Friday that competing in the portable
digital music sector, dominated by Apple Computer Inc., is no longer part of its
strategy. D&M sold Rio's MP3 technology and will retain the rights to the Rio
name, but has no plans to produce any more MP3 players.
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