iRiver, the maker of MP3 players and PMP devices, just announced its decision to increase the onboard storage of its N12 (Asia exclusive) MP3 player to 2GB.

This should be a pleasant announcement for those of you who are eyeing this device for a while. Unfortunately, iRiver plans to exit its portable audio business to focus solely on WiBro gaming. It’s unfortunate to see iRiver leave the arena, since it was arguably one of the top portable audio device makers in the industry.

Also understand that N12 is Asia exclusive and the company doesn’t have plans to retail this in the North American or European markets.