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

Audio-Technica intros AT-LP60-USB LP-to-Digital Turntable System

Audio-Technica announced the introduction of its AT-LP60-USB LP-to-Digital Turntable System, a complete USB turntable and software package that makes it easy to enjoy listening to records, and to transfer vinyl records to digital media files. The AT-LP60-USB includes a turntable and phono...

XO Children’s Laptop

One Laptop per Child (OLPC), a nonprofit organization whose mission is to help provide every child in the world access to a modern education, announced today its product road map to deliver robust laptop performance and innovative design for use in the most remote, poor and rural communities and...

Windows 8 to use new logotype

It appears that the famous flag-waving Windows logo will retire with the release of the upcoming Windows 8 operating system. Microsoft has confirmed that Windows 8 will arrive with a new logotype that will have little in common with the symbol that we have seen for decades. The change...

Leave a comment