Recently, Finnish mobile phone giant Nokia announced that even after trying hard to grow its market share in Japan, it has not helped in anyways, so the company would soon stop selling its handsets in Japan.

However, Nokia revealed that its luxury Vertu brand would continue being sold in Japan, and would dedicate its Japanese business for research purposes. Other than Nokia, Samsung and LG have been facing a lot of problems in Japan, where the market is primarily dominated by the sophisticated domestic phones.

Nokia also plans to cut costs because of the global downturn. Nokia executive vice president Timo Ihamuotila said, "In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific localised products is no longer sustainable."

Nearly 40% of the global market for mobile phones is dominated by Nokia. However, it has been learnt that company could only manage to take 0.3% of Japan's market last year.