Vertu for Sale for 200 Million Euros, Nokia to spin-off the business

Financial Times reports that Nokia is all set to sell off Vertu, its Premium range wing for Luxury Mobile phone for 200 Million Euros ($265 Million).

The Finnish company makes smartphones under Vertu brand with precious materials that usually retail from around $6000 up to $340,000. Some models also include bespoke content, such as custom ringtones, or a concierge service for things such as booking restaurants or hotels.

So, your wish to see a Gold plated phone running the beautiful Windows Phone Mango or higher OS will never happen, Nokia plans to sell it to a private equity group Permira, which is invested in companies like Hugo Boss.

We hope to seem some advancements on this soon, we will report as and when it happens.


The DNetWorks Team