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Luxury phone maker Vertu makes phones for outrageously rich tycoons, gets acquired by one

Posted: , by Victor H.

Luxury phone maker Vertu makes phones for outrageously rich tycoons, gets acquired by one

Vertu is one of those companies that has a name for itself: the luxury phone maker is known for manufacturing outrageously expensive devices adorned with all sorts of rare leather breeds (it sure will have that crocodile leather skin, yessir) and usually running on an outdated version of Android that would most likely never be updated.

Here is the news around Vertu: the company, founded and owned by Nokia in its earliest days, was acquired by Swedish equity fund EQT in 2015, and then, shortly after, by a Chinese fund, has now been acquired one more time. This time it is swapping ownership from the aforementioned Chinese investors to exile Turkish mogul Hakan Uzan. Uzan has allegedly paid £50 ($61) million to acquire Vertu and the company will likely keep its headquarters in the United Kingdom. Mr. Uzan is taking over a company with a £53 million loss on top of total revenue of £110 million, according to the latest publicly available figures from 2014.

"Vertu is a powerful brand with an acknowledged market niche. I look forward to working with the team and providing the investment to enable Vertu to realize its full potential," a spokesperson for Mr. Uzan said.

A shocking fact: Vertu sold 450,000 phones by 2015

And here is a fun fact that is even more interesting: a shocking 450,000 Vertu phones were sold by the company by 2015, with the average selling price amounting to some $6,000. The company's most expensive phones cost up to £40,000 currently. This is definitely more than what any sane person should pay for a mobile device.

If, however, you are looking for an easy way to spend a lot of money, Vertu should certainly be at the top of your list.


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posted on 13 Mar 2017, 08:32

1. mr.reckless562 (Posts: 162; Member since: 22 Dec 2016)


how fun

posted on 13 Mar 2017, 08:49

2. TerryTerius (unregistered)


I've said this before, and I'll say it again. Expense is relative and value is subjective. I may think spending $150 for a meal or several hundred for a clothing item is worth it, while that may be a complete waste of money to someone else. I'm not really that surprised they've sold hundreds of thousands of phones a year, when there are over 14,000,000 millionaires in the world. And of course, you don't necessarily need to have a 6-7 figure salary to be able to buy something like this.

posted on 13 Mar 2017, 09:10 2

3. trojan_horse (Posts: 4661; Member since: 06 May 2016)


"And of course, you don't necessarily need to have a 6-7 figure salary to be able to buy something like this."

So what are you saying? That someone who earns £70k (5-figure salary) per month (or per year, for that matter) should be able to (spend roughly more than 50% of salary) to buy a £40k Vertu phone?

I hope you're kidding here.

posted on 13 Mar 2017, 12:58 1

5. TerryTerius (unregistered)


I'm saying that even if you made 50K a year and you really wanted to save up and buy something like this, you could in theory.

The average device they sell is 6K. If you *really* wanted to, you could buy that. Why would you jump to the highest priced device they have and base your numbers off of that? I didn't make that claim.

posted on 13 Mar 2017, 17:23 1

6. jack123 (Posts: 258; Member since: 07 Jan 2013)


Do you think Vertu target is sell for an average salaryman? The answer is no.

posted on 13 Mar 2017, 20:22 1

7. TerryTerius (unregistered)


I didn't imply that either. What I said was that you could theoretically afford one without being rich. Much in the same way that you don't have to be wealthy to buy a mid-range Louis Vuitton bag. All depends on how much you want to save.

posted on 13 Mar 2017, 20:27

9. TechieXP1969 (Posts: 14131; Member since: 25 Sep 2013)


IKR. The a average pirchase weddingf ring cost $4000 retail.

The hottest sellong car in the USA is around $27,000.

People spend $5000 on vacations often.

You dont need to be a millionaire to buy this phone.

posted on 13 Mar 2017, 20:24

8. TechieXP1969 (Posts: 14131; Member since: 25 Sep 2013)


Exactly. Basically anyone who can afford a car can buy this phone.

Example, American Express has 53M card users. That means anyone at the very least can buy this phone.

Yet they only sold 450,000.

posted on 13 Mar 2017, 10:34 1

4. mercorp (Posts: 1043; Member since: 28 Jan 2012)


I wish that Hmd global would have brought out vertu instead!

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