Mobile advertising network InMobi will shut its offices in Agrica and Russia, in a move seen as due to a low uptake of mobile phone-based marketing, despite rising handset penetration.
According to a report Sunday by Business Daily, the India-based firm will still serve those markets but move its operations to regional offices possibly out of Dubai or London.
"We routinely review our business to align investment based upon growth opportunities," said Mital Goel, InMobi's public relations manager in charge of Europe, Middle East and Africa, told Business Daily.
She added current global market conditions justified the changes to the investment levels in those markets.
A marketing analyst at Scangroup, who declined to be named, told the newsdaily "most clients in Africa were still stuck in the old media and uptake of digital advertising remained low".
InMobi in Sep. 2011 received a US$200 million investment from Japanese mobile operator Softbank, and counts Asia as its largest market.