Nokia Looking To Sell Off Luxury Brand Vertu

Posted Dec 12, 2011

Nokia Corporation has been running the Vertu brand since 1998. Vertu designs very high end mobile devices with prices that are also high. For example, the Vertu Constellation mobile device currently sells for $6,200. Nokia is not selling the brand because it is doing poorly because the brand is doing extremely well. Vertu is estimated to be generating between $268 and $402 million. Goldman Sachs has been hired to oversee the sale. Vertu phones are sold in over 60 countries and has been doing especially well in the Middle East, Russia, and Asia. One of the biggest selling points of the phone is its 24/7 multiple language concierge service that does tasks for you like reserving tables at restaurants or telling you the weather. [Financial Times]