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Nokia to pull out of Japanese market
The world&'s biggest mobile phone maker, Nokia will stop selling all products except the high-end brand Vertu in
- Agencies
- Published: 10:06 November 27, 2008
Tokyo: The world's biggest mobile phone maker, Nokia will stop selling all products except the high-end brand Vertu in Japan, after struggling to expand its presence in the country.
Nokia holds only 1 per cent of the Japanese market which pales in comparison to the nearly 40 per cent global share.
Its products have failed to lure consumers from high-performance Japanese-made devices.
"We have judged that we cannot continue to invest in product development just for Japan amid the current tough economic conditions," Nokia executive vice president Timo Ihamuotila said in a statement.
Nokia said it will keep the Vertu brand in Japan.
The Yomiuri newspaper reported on Saturday that the Finnish cellphone maker plans to launch mobile services of its own using the network of NTT DoCoMo Inc, Japan's biggest mobile phone operator, to cater to users of its luxury brand.
Nokia said it will continue its global research and development work in Japan.
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