Nokia has today announced that they will now leave the market of Japan and will not sell or market any nokia product in Japan. Nokia claimed that the sales in Japanese market of the past years is not what they were expecting. To give a little clearer picture of what they meant by withdrawing from Japan means that only their sale and marketing of new nokia products will not be made in Japan anymore. Whereas the Nokia’s luxury mobile phone brand Vertu (Vertu brand is counted among the most expensive mobile phone sets) will still be sold in the Japanese mobile market. On the other hand the research and development process will also remain in Japan.
Timo Ihamuotila, the executive vice president of Nokia made the following statement: “In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific product variants is no longer sustainable.”