Nokia to sell Vertu luxury mobile brand?

Tech Digest news

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
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