Nokia to sell its luxury Vertu brand

The Finnish manufacturer of mobile devices has decided to sell its luxury Vertu brand in an attempt to compete with other smartphone makers.

It appears that Nokia has made the decision a while ago since there’s already an appointed representative – Goldman Sachs – to oversee the sale of the Nokia UK subsidiary, but talks are still at an early stage.

Vertu, which makes luxury handmade phones, has yet to be given a value, although annual revenue is estimated to be between 200 million euros and 300 million euros ($268 million and $402 million).

Nokia Vertu

Interest in a deal has been declared by private equity groups as Vertu is very likely to attract attention from luxury goods brands, given its emerging market customer base and the potential for cross-selling.

Source: Reuters

Related posts

Elder Scrolls V: Skyrim reaches 10-millionth mark

Zenimax Media, the parent company of Bethesda Software – the well-known maker of the Elder Scrolls series, has announced that the latest addition to the fantasy line of games – The Elder Scrolls V: Skyrim has shipped 10 million copies across the Xbox 360, PC and PlayStation with retail sales...

New Sony Ericsson W595 Cosmopolitan Flower Edition Phone

Sony Ericsson will release a new member to the “special family” - Sony Ericsson W595 Cosmopolitan Flower edition. This slider is designed for the ladies, featuring Cosmopolitan White color plus red flowers on the front and back,  also a special flash-menu pre-installed and comes with a small...

FireFall PC system requirements leaked, free to play

Red 5 Studios, the creator of the upcoming massive multiplayer online free-to-play shooter FireFall has announced the PC system requirements for the game. FireFall is a massive multiplayer online game with a mix of third person and first person shooting. The game is not all shooting...

Leave a comment