Luxury phone maker Vertu changes hands as Chinese investors step in

Luxury phone maker Vertu changes hands as Chinese investors step in

It was just announced that Vertu, one of the more popular manufacturers of ultra-luxurious and premium handsets out there, has just changed hands. Previously owned by EQT, a Sweden-based private equity group, Vertu is now owned by Godin Holdings, a Hong Kong-based fund, and other private investors. It also became clear that Massimiliano Pogliano, the CEO of the company for the past three years, has also resigned in order to "pass on the baton of leadership to a new team”

No financial details regarding the deal have been disclosed.

The ownership change won't affect the regular business over at Vertu in any way. It's said that Vertu's UK-based headquarters and manufacturing facilities in Crookham, Hampshire, will continue to operate as usual, and so will the rest of the company's facilities across the world. As a reminder, Vertu currently has a total workforce of roughly 900 employees, half of which are operating in the UK.

We are hopeful that the switch of ownership won't affect the manufacturer in a negative way in the long run. While once Vertu was mainly known for selling indeed premium and posh, but quite underpowered devices, during the past year or so it has treated us to the Signature Touch and the New Signature Touch. These devices are as premium as it gets, sport adequate hardware specs, and as per a long-time Vertu tradition, cost a small fortune.


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8 Comments

1. baldilocks

Posts: 1428; Member since: Dec 14, 2008

The Chinese are going to own everything pretty soon.

2. Bernoulli

Posts: 4359; Member since: Sep 01, 2012

Well, I guess now we can't say everything Chinese is cheap.

3. Johnnokia

Posts: 1158; Member since: May 27, 2012

Nothing great left for Europe.

4. Johnnokia

Posts: 1158; Member since: May 27, 2012

PhoneArena don't even bother mentioning that Vertu was founded by Nokia, and Nokia still has 10% of Vertu!!

6. Rafishant

Posts: 392; Member since: Oct 13, 2015

One of the steps of Nokia's mass destruction by Stephen Elop, selling Vertu for $200 million

5. Baracus

Posts: 223; Member since: Sep 15, 2012

I already said that cracked leather case makes it look like some cheap Chinese phone so no surprise the Chinese were attracted to buying it.

7. fyahking

Posts: 1146; Member since: Jan 28, 2015

The back looks like my v10.

8. DnB925Art

Posts: 1167; Member since: May 23, 2013

One of the things that made Vertu a true luxury item was it's concierge service. Just about anything you wanted, you just made a call to the concierge service, and you got it (as long as you have the money for it but if you owned a Vertu, chances are money is not an object for you). Need tickets to that concert sold out for months, not only will you get those tickets, you'd probably get them in the front row or in luxury box seats. Reservations to that restaurant for tonight when nothing is available and you'd have to normally book months in advance? No problem, just let them know what time and how many in your party. Yeah that's true luxury.

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