Nokia to sell Vertu luxury mobile brand?

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vertu.jpgAccording to new reports circulating over the weekend, Nokia are looking to sell Vertu, their luxury mobile phone brand responsible for some of the most ridiculous and over-priced phones available.

Looking to balance the gigantic loss of £750m it reported for the first quarter of 2012, Nokia are looking for a suitably luxurious asking price of around €200m, or £160m, for Vertu.

And apparently they may even hit that target, with with private equity firm Permira apparently leading the bidding.

Why anyone would pay tens of thousands of pounds for a pimped out feature phone in the age of the iPhone I’ll never know. More money than sense I suppose, but there must be a fair few people willing to offload their green for Vertu still if Nokia can command prices like that for the brand.

Via: Reuters

Gerald Lynch