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Rio quits MP3 player market
Rio say iPod too popular to complete against
28 August 2005 15:11 GMT / By Stuart Miles
The company that owns Rio Audio, makers of the Karma and the Carbon MP3 players has decided to quit the portable digital audio player market citing poor sales of its Rio MP3 player line.
D&M, who also own the Denon, Marantz and McIntosh brands said it will no longer make any more Rio products after 30 September.
"(The) decision to shut down the Rio business followed a determination that the mass-market portable digital audio player market was not a strong enough strategic fit with the company's core and profitable premium consumer electronics brands to warrant additional investment in the category," the company said in a statement.
With the announcement comes the realisation that won't be a follow up to the Karma that always seemed to be on the cards.
Rio has been involved in the MP3 business since the players first started appearing in 1998.
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