Nokia Selling Vertu Luxury Smartphone Business

  • May 7, 2012
  • Tech
  • Comments Off on Nokia Selling Vertu Luxury Smartphone Business

Nokia Selling Vertu Luxury Smartphone Business

Nokia is looking to sell the $300,000 diamond encrusted phone designer Vertu. The Vertu brand is popular among rich Chinese and Russians. Permira is buying this Nokia business for $260 million.

Vertu’s most expensive phone ever was 2006’s “Signature Cobra,” priced at $310,000. The phone featured two diamonds, two emeralds and 439 rubies. The problem I think with combining technology and jewelry is that tech. is considered old so fast. That once cool 2006 state-of-the-art cell phone , now looks like junk. If that outdated phone has jewelry on it cool turns to laughable. It seems like they are doing well so if you have that kind of disposable income more power to you.

The $260 million price-tag values Vertu at about 65% of 2011 sales.

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