Imation closes its doors

The legacy brands TDK and Imation will disappear from local retail shelves in 2016 when Imation Corporation exits the global consumer product market and tape media business on December 31. Speaking exclusively to Appliance Retailer, Imation general manager, Asia Pacific Region, Des McDaid explained that the decision was due to the continued declines in traditional media and ongoing market pressures that minimize both the revenue and the profitability for the company.