Nokia in ‘advanced talks’ to sell their Luxury Vertu Brand


According to a Reuters report, Nokia is in ‘advanced talks’ to sell their premium luxury phone brand, Vertu.

We heard this rumour back in December last year, but it seems Nokia has made progress on selling the cellphone subsidiary, to a private equity group called ‘Permira’ which also invests in companies like Hugo Boss. At the time Nokia set up Vertu as an independently run division of the Finnish mobile-phone manufacturer, which is what it is currently.

The figure for the sale is around €200 million (about $265 million), which is not too bad for a company that sells $20,000+ gold-plated phones.

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