Mio closing business in the US

Mio Technology, the subsidiary of Taiwanese PND manufacturer MiTAC is said to close its doors in the United States. From 30 employees only three are remaining according to a source close to the business. Radio Shack seems to be the only large retailer where Mio’s products are still sold today.

The new management brought in last summer has not been able to turn around the situation. The market share of Mio in the United States sinked severely in the last quarter of 2008. The acquisition of Magellan by MiTAC in the first days of 2009 confirmed the failure of Mio on the US market. However at that time it was not very clear if Mio would continue as a B brand along Magellan or disappear. It seems to be very clear now.

Read the complete article.

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This entry was written by admin , posted on Friday April 03 2009at 08:04 am , filed under GPS / Galileo / Glonass, pnd and tagged , , , , . Bookmark the permalink . Post a comment below or leave a trackback: Trackback URL.

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