What Happened to CD-R KING?

WHAT HAPPENED TO CD-R KING?

During its peak in the Market, CD-R King have more than 500 branches that was scattered in many places. During those period, it was comparable to Mang Inasal - One of the fastest-growing fast food chain in the country with about 450 branches. 

CD-R King was the retail equivalent of the Lechon Manok, Shawarma or Milk Tea Craze. Interestingly, it was just one company that has monopolized the MARKET for selling inexpensive Computer Parts and Electronics. Walang hindi nakakakilala sa CD-R King during their peak in the business dahil sobrang baba ng presyo ng mga electronics gadgets plus they all have everything needed.

They were really monopolizing the market because they do have dozens of computers and electronics gadgets from CDs, USB, Camera, mobile phones, keyboards, low-end TVs, E-bikes, Rice Cookers, digital music players and many others.

What happened to CD-R King?

Roots of CD-R King

CD-R King started in Quiapo, Manila in 1997. Records show that the company was founded by Nicholson Santos and Henry Ngo. The original CD-R King was a small store in Paterno Street that initially sold CD-Rs or recordable CDs back when it was the preferred mode of data storage.

Eventually that original branch closed down and CD-R King started opening branches near colleges and universities, a strategic move to be closer to its target market—students and educators.

"Streak drives and memory cards were at that point becoming famous (in those days), so we realized the interest will come," said Daryle Ganchua, then, at that point local director CD-R King in a meeting with the TV show Game Changer on ANC distributed in March 2016.

It was the interest for more up to date advances that drove CD-R King to enhance its product to incorporate fresher innovations that were for the most part imported from China. Later CD-Rs and CD-RWs (CD-Rewritable), the organization began selling PC parts, cell phones, sound and video hardware, vehicle adornments, LED lights and home apparatuses.

"We truly need to give tech to the majority," Ganchua said then, at that point. "What's more we attempt to make it as reasonable as could really be expected.

Fast extension

CD-R King extended quickly in the right on time to mid-2000s, opening branches in a large portion of the significant retail plazas like SM and Robinsons shopping centers, and surprisingly in alleged better quality shopping centers like the Podium. By 2016, CD-R King had around 350 branches, as per the Game Changer highlight. They had branches in essentially every significant city, remembering for territories like Baguio, Batangas, Laguna, Rizal, Cebu and as distant as Ozamiz City. Every one of them were organization possessed.

"Our point, assuming conceivable is to placed a CD-R King in each town," Ganchua said in a different meeting that he provided for online stage Unbox PH, which was distributed in June 2015. "We don't (have) high net revenues since we need (to give) the Filipino individuals the most recent innovation."

Albeit CD-R King imports the items discount and afterward pivots and sells these to the end-buyer through its retail channels, the organization likewise began slapping its name on to conventional items, adequately selling these items under the CD-R King brand.

THE BIR is LOOKING AT CD-R KING 

The Bureau of Internal Revenue (BIR) Revenue Region No. 6 of Manila has recorded a ₱26.47-million tax avoidance objection against CD-R King author Nicholson Co Santos and Haleiwa International Corporation.

In an assertion, the BIR said it recorded before the Department of Justice (DoJ) a criminal objection against Haleiwa, Santos, and financier Josephine Chen for infringement of Section 255 of the National Internal Revenue Code (NIRC).

This was regarding its inadequacy charge responsibility for the main portion of 2017. No particular subtleties with regards to the infringement purportedly dedicated by the enterprise and its officials were unveiled.

Segment 255 of the NIRC punishes inability to record return, supply right and exact data, settle charge, keep and transmit duty, and discount overabundance charges kept on remuneration.

Haleiwa International was one of the organizations through which Santos carried on with work as CD-R King, a corporate store that got famous for selling limited PC frill and gadgets until it in the long run capitulated to web based shopping.

The organization was enrolled with Revenue District Office (RDO) Number 30, and its work locale is at Unit 1207 World Trade Exchange Bldg., 215 Juan Luna St., Brgy. 287, Zone 27, Binondo, Manila.