Nokia to exit Japan by August
Nokia Corp will finally exit the Japanese cellphone market by the end of August. The Finnish handset manufacturer had stopped supplying cellphones to Japanese carriers in 2008, according to a report. Nokia will shut high-end Vertu handset stores in Tokyo's Shibuya and Ginza districts by the end of July, the report said. The Vertu business has been struggling as the popularity of smartphones rose.
Nokia's phone service, run on network infrastructure leased from NTT DoCoMo Inc., will be discontinued when its contract expires at the end of August. Nokia's Tokyo office will stay open till the end of the year to handle fee refunds and other matters.
Vertu handsets cost 600,000 Yen ($7,450) to 20 million Yen ($248,354) each, with some models decorated with precious metals or traditional Japanese lacquer designs. Nokia has been restructuring since its earnings deteriorated due to the rise of Apple Inc.'s iPhone and other smartphones.
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