Nokia to quit Japanese mobile phone market

nokia

Nokia Corporation is a Finnish multinational communications corporation, headquartered in Keilaniemi, Espoo, a city neighbouring Finland’s capital Helsinki.It has a 37% global market share in handsets.

Inspite of its dominance in man countries , the Japanese market has been a tough nut to crack.Samsung and LG have also faced problems in Japan – a market dominated by sophisticated domestic phones, with the 4th largest mobile phone market in the world. The Japanese market is dominated by local firms selling phones with features such as TV broadcasting and electronic payment functions, with advanced third-generation network that makes foreign companies difficult to compete .The foreign companies account for only 5% of the market share .

Nokia has said it will stop selling its handsets in Japan after struggling to grow its market share in the country.Nokia reports that these operational changes will affect roughly 10% of Nokia Japan’s employees. Nokia’s R&D center in Japan will not be impacted.

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