SINGAPORE : Electrical products and electronic home appliance distributor Casa Holdings says its turnover for the next financial year ending September 30, 2005 will be drastically reduced.
This is after Korean firm LG Electronics says it intends to withdraw the distributorship of LG products from Casa.
LG mobile phones will be withdrawn from January 1 next year, and LG consumer electronics and IT products will follow from April 1 next year.
Casa says the move is “in keeping with LG’s current and future global strategies and regional policies.”
The company says it will be negotiating with LG for a smooth handover of the LG products distribution in Singapore and Brunei.
It will also seek to have an amicable conclusion with LG in the best interest of the company. – CNA
From Channel New Asia