Nokia is to close its flagship store on London's Regent Street. The Finnish phone giant, which has struggled to retain control of the smartphone sector since the rise of the iPhone and Android, admitted the news to Pocket-lint in an email, saying:

"Nokia is crystallizing its branded retail strategy, aiming at improving operational efficiency of its retail network. This requires revamping of the retail network and, as a consequence, Nokia has plans to close Nokia Regent Street in Q1 2010".

Various other Nokia stores around the country will remain open for the time being, including the stores in Heathrow T5, Reading, Newbury, Wiltshire, Surrey, Winchester, Oxfordshire and Manchester.

The news comes as Amazon is rumoured, but denies, to be launching high street stores where customers will be able to collect goods that they've purchased from the website.

UPDATE: Nokia's flagship New York and Chicago stores are also to close.