Nokia to sell luxury-phone brand Vertu for $265M
It’s been quite a while since Nokia have started going down in the mobile phones industry. One of the solutions to save the company could be selling a few of its less profitable brands. It seems like they thought of this as well, thus deciding to put their luxury wing, Vertu, to sale.
Goldman Sachs have advised Nokia to sell the brand for $265 million. The most probable buyer would be the private equity group Permira.
In technical terms, these England-made phones feature cases made of exquisite materials like carbon fiber, titanium, stainless steel and precious metals (platinum and gold), being decked with additional opulent detailing like alligator, ostrich or calf skin, along with stones like rubies and diamonds. Their displays consist of sapphire-crystal.
A rather intriguing fact is that their ringing tones have been carefully composed by the London Symphony Orchestra. Nevertheless, phones are not the only products you would receive. The company also ensures 24/7 concierge service, two complimentary repairs per year automatic data backups, city guidebooks for the jetsetters.
If you’ve never heard of Permia, note that they currently own Valentino and Hugo Boss. In addition, Vertu is not entirely known for its technology, but for the reputation it has among the high-class society and elites, according to Financial Times. The brand currently has 6t00 employees and has been founded during 1998.