Luxury mobile phone segment to be sold off amidst company losses.
Hands up if you own a gold-plated and diamond-studded phone. Yea, I didn’t think so either.
Earlier today there were reports that mobile giant Nokia is trying to pawn off its Vertu ]brand for a cool $265 million, in the wake of reporting a staggering $1.76 billion loss for its first quarter. The company has had declining sales on its Symbian OS phones, and is putting all of its efforts into its latest Windows Phone lineup.
The Vertu brand is most recognized for limited edition phones that are usually made from high-grade metals and often contain 24k gold or diamonds. Earlier in the year the company released a range of mobile phones to celebrate the Chinese Year of the Dragon, including a model with yellow gold and diamonds.