Media Markt, responding to exit China hearsay: shareholders are analyzed to assess

    
In China only two years ' vehicle dvr time, Europe's largest consumer electronics retailer Media Markt (hereinafter referred to as Media Markt City) will be exposed its intention to withdraw from the Chinese market.

In response to the above message, Media Markt, said in a statement released yesterday, "shareholders are obtained from the market testing phase analysis of the facts and data, and evaluate strategies for next. These assessments and decisions is underway, Media Markt, China not to comment. ”

"The market test phase"

Media Markt, does not vehicle dvr explain what is meant by "market testing". Foxconn under lobbying, Media Markt, entered China in November 2010, currently has seven stores in China, all set in Shanghai. In other words, two years after the entry into the Chinese market, Media Markt, the Chinese company is not out of Shanghai.

It is worth mentioning that, in China, only 8 months – July 2011, Media Markt, China Chief Executive announced a change. At that time, the outside world once commented, the electrical chain "to go best buy's old road." Closing February 2011 in China of the United States largest electronics retailers like best buy, Media Markt, after entering China have also taken cash buyouts commodity, its own employees to car dvr provide customers with the unbiased shopping guide, operation mode, many consumers use Media Markt stores as "experience Center".

It was reported that the 2012 during the first three quarters, Media Markt, China sales of 100 million euros (about 130 million dollars), expected a loss of 40 million euros for the year. Germany local time on January 7, Reuters quoted several sources as saying that Germany retail giant Metro Group tended to give up its Media Markt, plans to expand in China.

One person even said, China's market competition more fierce than anticipated, Metro Board preference for Media Markt will withdraw from China, but has not yet made a formal decision.

Pressure from electricity supplier

Fierce price competition in the retail market in China, especially competition from commercial pressures, foreign retail giants such as Tesco, Home Depot's business in China is also struggling.

On October 18, 2012, Media Markt, has announced the launch of online shopping in China, started its so-called multi-channel strategy. Media Markt, Chief Executive of China Pu Shaobo (Frank Bussalb) said, "in view of the current situation of decline in the overall retail market, Media Markt, provisional focus on the development of online shopping this year in China, but will not give up the store to expand. ”

Media Markt, car dvrsaid in a statement yesterday, Media Markt, China online store "current work focuses on strengthening business operations in the Shanghai market".

Struggling Metro

Through 2012, was a difficult year for Metro. Last October, Metro issued a profit warning, and led Moody's and standard and poor's cut the company's rating.

Reuters, Germany billionaire founder, Media Markt city ailixi·kelehaer (Erich Kellerhals) announced that it was empty, after Chinese shares, Metro a further blow.

Media Markt, according to previously disclosed information, Metro, kelehaer and the Stiefel family owned Media Markt, 75% shares in Chinese companies, Terry GOU, Foxconn, owned by then holding the remaining 25% stakes.