Videogame giant Nintendo Co. Ltd. has stopped sales of its games and consoles in Brazil due to high import taxes and intricate business atmosphere in the country.
Nintendo’s GM in Latin America has said that the current [business] model was not sustainable and Nintendo has intended to give up on its sales, but will not give up entirely on Latin America’s most robust economy. The company will think over its next move.
Nintendo does not produce the games in Brazil and the company’s move will not affect other countries in the region, which have separate distributors.
Brazil fared poorly in “ease of doing business” category by the World Bank Group this year as it only ranked 120 out of 189 countries though it improved three notches higher compared with last year. In terms of “paying taxes” category the country scored the lowest score.