Nokia to sell Vertu Division, ruins hopes of a Vertu Windows Phone
News has recently come out from Nokia that they are planning to sell their High Class and Luxury Phone brand Vertu (bet some of you didn’t know they made Vertu phones eh?), but the selling process is at a very early stage and no exact plans have yet been made. Vertu for those who don’t know make some of the most expensive phones in the world costing an average of $5,800 a phone (the phones that are exepensive, but you don’t have to stick 20,000 diamonds onto them) and everyone who has seen their phones know that they are some seriously powerful phones (not specs wise, materials wise of course). Nokia to their credit have appointed Goldman Sachs to oversee the sale details and while there are no current parties leading the race for the sale, you can be sure that Vertu will be a very impressive commodity to have for other Luxury phone makers.
As far as Vertu goes, the analysts value the company at about $268 to $402 million so Nokia should be able to make up for the losses they’ve incurred in 2011 thus far, while they focus their attention on making Windows Phones and Symbian Phones to a lesser extent for developing countries. However with the sale expected to go through, it means that we’ll never be able to see a Vertu Phone running Windows Phone 7 (despite how unlikely that was ever going to be). Still we can dream can’t we?
Either way, there’s going to be a lot of Disappointed/Angry Russian and Middle Eastern folks.