Radiola Corporation is closing its Samsung brand store in Auckland's Newmarket, with immediate effect.
In a statement to customers and business partners, Radiola says it has reviewed key expenditure as a result of global economic trends. "While the Brand Store has created a first class window to display the full range of Samsung products available in the New Zealand market, its reach is to approximately 2-5 percent of the available market, and we consider the marketing resources committed to the Brand Store could be better used to support our retail partners."
In the announcement, Radiola says it's also migrating its finance, administration and information technology, as well as call centre functions, to Auckland.
It says the lease on its Porirua facility has expired, providing the opportunity to consolidate.
The migration of all functions - except the product management team - to the Albany office is intended to be completed by 31 May.