vertu

Perry Oosting, Vertu's chief executive, confirmed that the “idea to sell Vertu had always been around in Nokia”, and argued that the sale was a “logical move”.
Vertu’s diamond encrusted handsets can sell for up to £200,000, while Nokia bonds have recently been downgraded to junk status. The sale, for a rumoured $200million, to private equity firm EQT VI is not expected to lead to any immediate changes in the company's strategy.
Mr Oosting said, “with independent sales, software, manufacturing and marketing, we were such an independent duck in the pond for Nokia. The only connection was the back end functions and systems, so this final announcement was a logical move, even if it came at the end of a very intense process.”
Vertu, which is based in Church Crookham, Hampshire, has benefited from growth in developing Asian markets. Its most recent launch is a device made in collaboration with the charity Smile Train, where the firm will make a €1million contribution to help children born with cleft palates in the developing world.
Jan Ståhlberg, of EQT, said “We believe we have a good product and a good management team; in the short term there will be no changes.”