Nokia's Vertu pulling out of Japan in latest cost-cutting move

Nokia's Vertu pulling out of Japan in latest cost-cutting moveNokia's global belt-tightening efforts continue, with the Japanese arm of its luxury phone subsidiary Vertu the latest part of its operations to get the snip.

The company's two Vertu stores in the country will shut their doors for good at the end of the month, leaving Nokia without any presence in the land of the Rising Sun at all.

Nokia itself pulled out of Japan in 2008, but has maintained a foothold of sorts in the country through Vertu, which produces high-end handsets draped in the likes of gold and precious metals. Prices often run into the thousands of pounds, despite the fact that in terms of features and specification they're usually very basic.

But with smartphones offering more and more with each new generation, and the global financial situation having hit premium brands like Vertu hard over the past few years, sales have been flagging.

Japan's Nikkei reports that Nokia will cut its losses in Japan and close its Vertu stores in Tokyo's Shibuya and Ginza districts at month-end, with its agreement to lease NTT DoCoMo's network infrastructure set to expire a month later.

Vertu's main office in Tokyo will remain open until the end of the year, however, to handle fee refunds and other matters.

This comes just a week after Nokia announced the closure of its online stores in both the UK and the US, another move aimed at cutting costs.

Via Reuters

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Reser  Jul. 4, 2011 at 16:57

I honestly do not think it will be long before Nokia is no longer around at all. Once this Windows 7 fiasco falls flat on its face I think they will probably just go bust and finally leave us in peace.

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