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TAG McLaren Halts New Product Development Plans

8/04/2003 02:00:00 AM Eastern

High-end audio and A/V equipment manufacturer TAG McLaren Audio Limited has ceased development of new products and is conducting a full strategic review of its participation in the audio market, the company announced.

The company cited the impact of "the present world economy" on the market for high-quality audio and audio/visual products, which "has made it increasingly difficult to operate on commercially acceptable margins consistent with the levels of development investment required."

The company, founded in 1998, said products already introduced into the market and existing upgrades will remain available for the time being. Warranty, repair and help-desk services will continue to be available.

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