Nokia's stab at an iTunes competitor, Ovi Music Unlimited, has spun its last track in most major markets. The subscription service never really took off here in the US, despite support from the Big Four record labels, and folded for a plethora of reasons:

Reasons behind the lackluster performance include use of older supporting handsets for the product at its launch, digital rights management (DRM) software that tied downloaded music to the device and a difficult to understand product offering.

Current customers will maintain their access to the service until their current subscription expires, and some markets—China, India, Indonesia, Brazil, Turkey and South Africa—will continue to offer six or 12 month subscriptions.

So another iTunes competitor drops out. Your move, Spotify! Please make it quickly. [Reuters]