Nokia, the world's biggest headset manufacturer has announced it will pull out of the Japanese market due to the economic downturn.

The Finns will stop producing mobile phones for NTT DoCoMo and Softbank Mobile, but the luxury Vertu brand will live on, which clearly indicates the bourgeois are not affected by the crisis like commoners.

"In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific localized products is no longer sustainable," Nokia executive vice president Timo Ihamuotila said in a statement.

In recent weeks Nokia has unveiled several cost cutting plans, including a reorganization of its Finnish production sites. The decision to pull out of the world's fourth largest mobile phone market might not seem reasonable.

However, keep in mind Europeans are about as bad in selling electronics to Japanese as Americans are in selling cars to Europeans.

More here.