Nokia will close mobile money service in India

nokia money service 273x300 Nokia will close mobile money service in IndiaNow Indian users of Nokia who are being served with its financial services, has to been disgrace because it is likely to go for closing down Nokia Money service that runs in India.

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

Further it said that the company wanted to continue to narrow its focus on its phone business and location-based services that much appreciated by Indian customers.

Leading with restrict business model in India, Nokia plans to exit its financial services as one of the major business opportunities in the wireless industry that has become a big business only in Kenya and the Philippines.

Just last year Nokia opened the India-wide service, but recent time the market is so inactive that Nokia have been fighting to get an opportunity of lucrative business.

“The market is crowded and the role of Nokia in that business was questionable,” said John Strand, head of mobile consultancy Strand Consult.

Nokia has quitted lot of its mobile services that launched last year, along with thousands of jobs, seeking to raise its market share which continuously falls down.

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