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Nokia may sell Vertu luxury phone unit to EQT this week

Posted: , by Victor H.

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Nokia may sell Vertu luxury phone unit to EQT this week
Nokia might be one step closer to selling its Vertu luxury phone unit and one company to buy it is said to be private equity group EQT. Reuters’ infamous “sources familiar with the matter” said that the deal is estimated at around $250 million (200 million euro).

The deal could be inked as soon as this week, but it’s all up in the air still as there are difficulties related to the carving out of the Vertu unit out of Nokia.

Vertu is known for making luxury phones, but with the advent of smartphones the company lagged introducing full-fledged smartphones. The brand however is still popular, mostly in third-world countries where oligarchs and the like buy the phones as status symbols. One general principle to go with Vertu phones is that if you’re asking about the price, than chances are you can’t afford it.

Nokia has fumbled and is now looking for more cash, and selling its “non-core” assets like Vertu is one of the ways it can patch the holes drilled by the Android and iOS boom, and self-erosion of Symbian.

source: Reuters

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posted on 13 Jun 2012, 07:54 3

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

Vertu make overpriced phones with little functionality.Give us a lumia vertu.

posted on 14 Jun 2012, 02:21

5. Sangeet (Posts: 232; Member since: 21 Apr 2012)

or a Vertu Pureview.. Price it for as much as you guys can but a vertu with a 41mp camera would be justifiable with any price tag..!!

posted on 13 Jun 2012, 08:10 1

2. shadowcell (Posts: 300; Member since: 28 Mar 2012)

Vertu was living in the past. I don't understand why is it so difficult so make a luxury smartphone. Production is limited and they have the aesthetics right...

posted on 13 Jun 2012, 09:32 3

3. InspectorGadget80 (unregistered)

Only idiots and dumb ass millionaires would spend millions of dollars on a OVER PRICE luxury phone. This reminds me of a old Motorola Luxury phone called the Aura I think if i remember

posted on 13 Jun 2012, 12:29

4. denied911 (banned) (Posts: 361; Member since: 31 May 2012)

I don't get this slow old specs phones
Newest nexus in gold or aligator skin would be much more interesting

posted on 14 Jun 2012, 08:39

6. dirtydirty00 (Posts: 425; Member since: 21 Jan 2011)


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