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Nokia to Stop Selling Phones in Japan
Samir Makwana, Nov 28, 2008 1314 hrs ISTBows down to economic crisis
Nokia has said that it will stop phone sales in Japan since it is struggling to grab more market share. However, Nokia will continue selling Vertu brand phones and their Japanese operations will focus on research and development.
Timo Ihamuotila, Nokia's executive vice president said in a statement, "In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific localized products is no longer sustainable."
Japan is the fourth largest mobile phone market after US, China and India. Nokia has faced the meltdown competing against domestic handsets that offer TV broadcasting and e-payment functions, after Samsung and LG. Nokia holds less than one per cent share in Japan's cellphone market compared to its 40 per cent global share in cell phone market.
As per Yomiuri newspaper, Nokia plans use DoCoMo's network to launch exclusive mobile phone services for Vertu customers.
Timo Ihamuotila, Nokia's executive vice president said in a statement, "In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific localized products is no longer sustainable."
Japan is the fourth largest mobile phone market after US, China and India. Nokia has faced the meltdown competing against domestic handsets that offer TV broadcasting and e-payment functions, after Samsung and LG. Nokia holds less than one per cent share in Japan's cellphone market compared to its 40 per cent global share in cell phone market.
As per Yomiuri newspaper, Nokia plans use DoCoMo's network to launch exclusive mobile phone services for Vertu customers.
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