It Looks Like Vertu Has A New Owner (Once Again)

We’re not sure how many of you guys knew this, but luxury phone maker Vertu used to belong to Nokia back in the day. We know both companies and their products couldn’t be more different from each other in terms of design and intended audience, but that is a fact. However in 2012, Nokia sold the company off, and in 2015 it was sold again.

Fast forward to 2017 and just like a hot potato, it seems that Vertu’s ownership has changed hands once again. According to a report from The Telegraph (via TechCrunch), Vertu has been sold yet again and this time to Turkish businessman Hakan Uzan. It was reported that Uzan paid £50 million to acquire the company, which when considering how much other companies have paid for each other doesn’t seem like a lot of money.

We’re not sure what Uzan plans on doing with Vertu or if he has a strategy in place to turn things around, although it’s hard to imagine how, unless he intends for Vertu to start selling phones that regular folks can afford. For those unfamiliar, Vertu is known for their luxury phones in which the specs and features aren’t exactly outstanding, but rather the focus is on its construction materials.

This involves the use of leather, sapphire, metal, and precious stones, which is why on average Vertu’s phones are priced at around the $6,000 mark. In any case it remains to be seen what Vertu’s new owner plans to do with the company, but we’ll be keep our eyes peeled anyway.

Tyler Lee
Categories: Cellphones
Tags: vertu