Luxury phone maker Vertu throws in the towel

You may have heard of Vertu, the UK-based manufacturer sells smartphones with decent specifications and expensive materials. Vertu hands can easily run into thousands of dollars and while it may have healthy margins on these products, they don’t seem to be enough to solve its money problems. Vertu has 128 million debt and since the owner can’t pay creditors, the company is shutting down its manufacturing operations in the United Kingdom. For those who are unaware, Vertu got its start back in 1998 when it was a part of Nokia. A private equity company EQT purchased it from Nokia back in 2012. Godin Holdings of China purchased it from that firm in 2015.The ownership of this company has already changed hands multiple times. Businessman Murat Hakan Uzan purchased the company back in March this year. He’s now shutting down Vertu’s manufacturing operations in the United Kingdom, cutting some 200 jobs in the process.The smartphones themselves didn’t have technology that could rival ev

Luxury phone maker Vertu throws in the towel

Vertu’s tumultuous 2017 has come to an end. Just two weeks after rumors surfaced suggesting the luxury mobile phone maker was in financial trouble, word has come down the pipe that Vertu ...

Fri 14 Jul 17 from Techspot

Vertu is dead

 It’s been a long, downward slide for cellphone maker Vertu. The company, founded by Nokia in 1998, was supposed to be a luxury phone provider to the stars and, to a degree, it delivered. ...

Fri 14 Jul 17 from TechCrunch

Luxury phone maker Vertu collapses

Thu 13 Jul 17 from Daily Mail

Vertu Shuts Down UK Manufacturing Operation

You may have heard of Vertu, the UK-based manufacturer sells smartphones with decent specifications and expensive materials. Vertu hands can easily run into thousands of dollars and while ...

Thu 13 Jul 17 from Ubergizmo

Luxury phone maker Vertu is calling it quits

Luxury phone maker Vertu is in the process of being wound up after an attempt to rescue the business from administration failed. The Financial Times reports that the firm, which apparently ...

Thu 13 Jul 17 from Engadget

Luxury phone-maker Vertu collapses

The British-based company will be liquidated, resulting in the loss of nearly 200 jobs.

Thu 13 Jul 17 from BBC Technology

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