IntoMobile

Breaking news, information, and analysis on the latest mobile phones and mobile technology

Open NavigationOpen Search
  • Home
  • Platforms
    • iOS / iPhone OS
    • Android
    • Windows Phone
    • BlackBerry OS
  • Hardware
    • New Hardware
    • Tablets
    • Reviews
    • Rumors
  • Carriers
    • AT&T
    • Sprint
    • T-Mobile
    • Verizon
  • Manufacturers
    • Apple
    • Samsung
    • HTC
    • LG
    • Motorola
  • Best VPNs
    • Best VPNs for iPhone
    • Best VPNs for Android

Nokia still looking to sell Vertu says Reuters

June 13, 2012 by Anthony Domanico - Leave a Comment

Nokia looking to sell Vertu?
Share on Twitter Share on Facebook ( 0 shares )

Those holding out a glimmer of hope that Nokia will hang on to Vertu should probably go ahead and give up. Nokia has been looking to offload its luxury phone unit since at least December, and Reuters confirms again this morning that Nokia is in talks with private equity group EQT to offload Vertu for around $250 million. EQT is not the first private equity firm to reportedly take interest in the Vertu line. Permira was rumored to be in talks with Nokia back in April, though the company apparently decided to not make an offer to Nokia.

The Vertu line has been responsible for some of the most expensive phones on the market, running around €200,000 a pop. Revenues for the Vertu line are estimated to bring in about €200 to €300 million annually, which amounts to about 100-150 sales per year at the €200,000 per phone level. Selling off the Vertu line could give Nokia some much-needed cash after the company’s stock was downgraded to junk status a few months ago.

[via Reuters]

Share on Twitter Share on Facebook ( 0 shares )

Back to top ▴

Back to top ▴

Follow IntoMobile

38k
36k
4k
13k
12k

Most Recent Posts

  • iPhone No Sound: Tips on How to Fix this Common Issue
  • The newest iOS – things you surely did not know
  • Transferring money through mobile: Why digital wallets are the future of commerce?
  • Review: Shine laser light Bluetooth headphones
  • Neptune Suite smart watch with phone and tablet screens killing it at Indiegogo

Get Updates Via E-Mail

  • This field is for validation purposes and should be left unchanged.

About IntoMobile

  • About IntoMobile
  • Contact IntoMobile
  • Send us News Tips
  • Privacy Policy

Social Links

  • IntoMobile on Facebook
  • IntoMobile on Twitter
  • IntoMobile on Google+
  • IntoMobile on YouTube

Copyright © 2006-2021 IntoMobile. All rights reserved.