Luxury phone maker Vertu acquired by a rich mogul

If you can recall Vertu, you’d remember how expensive and upscale their devices are. Well, they have a niche market for the elite and somebody from their group just bought the company.

Vertu was founded and owned by Nokia before it was acquired by Swedish equity fund EQT in 2015. Then it got acquired by a Chinese fund before heading to its current owner Turkish mogul Hakan Uzan for an alleged price of £50 million.

“Vertu is a powerful brand with an acknowledged market niche. I look forward to working with the team and providing the investment to enable Vertu to realize its full potential,” a spokesperson for Mr. Uzan said.

According to the latest public figures of Vertu, the company was able to sell 450,000 units with an average selling price of $6,000PHP 352,113INR 508,499EUR 5,714CNY 43,670. The most expensive model can cost up to £40,000. Their latest handset is the Vertu Constellation.

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