Tue May 12, 2009 7:00 pm
Finnish mobile phone maker Nokia said that it plans to revamp its services strategy and stop investment in Ovi Share, its photo and video sharing site.
"Ovi Share is planned to be maintained in its current state," said a spokesman for the company.
Nokia, the world's largest handset maker, hasn't unveiled usage numbers, but analysts predict these have remained low due to the appeal of already popular online services such as social networking site Facebook and Yahoo's photo sharing site Flickr.
To cope with the sinking handset demand, Nokia has created a new business from Internet services -- such as maps and games.
The company posted its first-ever quarterly loss for January-March due to the slowing global economy and is amid a large cost-cutting program, having slashed 3,500 jobs so far.
Nokia built the Internet service when it bought Twango in 2007, opening it to the public in February 2008.
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