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Nokia to freeze investment in media sharing site
TT Bureau |  |  12 May 2009

Nokia said Tuesday that it will stop its investment in its first major Internet service venture- a media sharing site.

 

The announcement is in line with the company’s freshly charted out services strategy.

 

According to a spokesperson from the company, the site will be maintained in its current state.

 

Though Nokia didn’t reveal the usage numbers, media experts believe the number to be low because of the strong competition thrown by established sharing sites like Flickr or Facebook.

 

Nokia constructed the service following the acquisition of U.S. firm Twango in 2007, and opened it to the public at the Mobile World Congress trade show in February 2008.

    
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12 May 2009(IST)  
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