Printed from http://www.electronista.com

Nokia shutters Money service, focuses on phones

updated 02:30 pm EDT, Mon March 12, 2012

Nokia closes India-only Money service

Nokia said on Monday it will close its Nokia Money service in India in order to focus on its phone business. A spokesperson briefed Reuters that it was jettisoning the mobile financial services business as it wasn't a core Nokia business. The service was launched throughout all of India late in 2011 after earlier, regional launches.

The plan was to eventually expand it to other emerging markets, though these plans will likely never materialize. The scheme was also likely not very successful in India, as there is a lot of competition and close government regulation. Mobile services have so far taken off only in Kenya and the Philippines.

Nokia has other service for emerging markets in its entry-level phones, however, such as the Asha range's Nokia Life Tools. The service was most recently referenced at Mobile World Congress and focuses on education, entertainment, and health.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News