Altech Node to be taken off the market
Robert Venter, chief executive officer of Altron, explained: “Unfavourable conditions such as the current economic environment which is putting pressure on the consumer and increased competition in the video-on-demand (VOD) environment have necessitated us to make the difficult decision to close the Altech Node business.”
The company said that from 31 October 2015, all Altech Node services will be suspended, and subscribers will be refunded R1 999 per Altech Node device. “Refunds will be processed through the normal payment mechanism presented by the customer (i.e. directly paid into a credit card or digital wallet) during November 2015,” explained Altron.
“We overestimated the readiness of the South African market for such a pioneering service, combining both VOD and smart home services. The technology in the Altech Node is highly innovative and world class and will continue to be owned by Altron,” added Venter.
Altech Node could also be feeling the pressure from competitors entering the market. As they make an exit Naspers enters with a new video on demand service (ShowMax) in South Africa. In addition Netflix will be coming to South Africa in 2016.
Recent Articles
Featured Is good debt a good reason to take out a personal loan?
When you’re in a pinch and you need to borrow money, you may reach out to a creditor for a personal loan. The upside of this kind of loan is that you can spend the money on anything you choose. However, just because you can use it for anything, does not mean you should.
Checklist for a good consolidation loan
Debt can get out of hand if it’s not managed properly. That is why it’s important to be realistic about your budget and consider affordability before you take a loan. However, if your debt still gets out of hand, there are ways you can rein it in again.
What is a mortgage, and should you get one?
It’s a fairly common occurrence, especially in slow economies, for a family overwhelmed with bills to take out a second mortgage on their home. But how good an idea is this?
The costs you may encounter when renting
When you rent an apartment or house, you agree to pay the rental amount, and you may have to cover the cost of some amenities such as water and electricity. So then, which costs can you anticipate during the rental process?
Deals
Get 40% off your Easter holiday at The President Hotel
Price: Available on request
When: 01-30 April 2021
Where: Cape Town
Colosseum Deluxe Suite Special
Price: R990
When: Until 31 August 2021
Where: Cape Town
One & Only Fitness Special
Price: Available on request
When: Until 30 April 2021
Where: Cape Town