Nokia’s extreme dieting continues as it kills off Nokia Money

Nokia to shut Indian mobile money service

Nokia President and Chief Executive Olli-Pekka Kallasvuo talks about money transfers with mobile phones during the 2010 International Consumer Electronics Show (CES) in Las Vegas, Nevada January 8, 2010. REUTERS/Steve Marcus

“The mobile financial services business is not core to Nokia so we plan to exit the business,” said a spokesman for the company.

Nokia kills Indian mobile payments service as it pulls every ladder up


If you thought Nokia had finished its program of slimming down, think again. The axe is being wielded on Nokia Money as the company seeks to reinvent itself as a lean’n’mean mobile player. The mobile payments and cash management service was launched in India late last year, but both complex financial regulations and the fact it’s outside of Nokia’s core business prompted its early closure. Instead, it’ll concentrate its efforts on its smartphones designed for emerging markets like the Asha: with the aim of connecting the “next billion” people to the internet.


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This entry was posted on March 13, 2012 by in INTERVIEWS, NOKIA and tagged , , , , , .
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