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.