Nintendo exits Brazil due to challenges in local business environment
In a recent announcement, Nintendo of America Inc. has revealed that it is pulling out of Brazil this month, because of challenges in local business environment. The company has said that the high import taxes and other tariffs imposed by Brazil have made imports of electronics into the country more complicated.
Announcing its decision to exit the Brazilian market, Nintendo said in a statement that the “ongoing developments” in Brazil have brought about a change in the physical distribution of the company’s products in the South American country.
Nintendo’s decision to close down its production line in Brazil implies that, with effect from January 2015, Gaming do Brasil - a wholly-owned subsidiary of Juegos de Video Latinoamerica, GmBH – will stop distributing Nintendo products in the Brazilian market. Gaming do Brasil was distributing Nintendo products in the country for the last four years.
However, along with announcing its exit from the Brazilian market, Nintendo has asserted that, in spite of the changes in Brazil, Juegos de Video Latinoamerica will remain Nintendo’s distributor for Latin America.
Nintendo also said in its statement that “Brazil is an important market for Nintendo and home to many passionate fans;” and added that despite its decision to pull out of the country, Nintendo will “continue to monitor the evolution of the business environment and evaluate how best to serve our Brazilian fans in the future.”
The overall ‘asthma epidemic’ among children has...Read More
People in huge numbers gathered in the Mount Lofty...Read More
As New Year is approaching, people have already...Read More
Alzheimer’s disease, the commonest cause of...Read More
Cases of opioid abuse have been increasing and...Read More
In an announcement made on December 22, cable giant...Read More