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Luxury Phone Maker Vertu Folds After 20 Years of Making Expensive Handsets

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Luxury phone maker Vertu closes down after nearly 20 years

For nearly two decades, Vertu’s name has been synonymous to luxury. The British company founded in 1998 by Nokia was in the forefront of high-end mobile devices for the rich and famous. Unfortunately, that will soon end as the company now prepares to liquidate all its assets.

According to the Financial Times, Vertu will cease all if high-end smartphone manufacturing processes that will result in the loss of 200 jobs. However, the owner of the company still maintains he will keep the brand and all the design licenses. This is as a last effort to help save and potentially rebuild the company.

For those uninitiated, Vertu is a luxury smartphone maker that caters for the millionaires. The company produced mobile devices or a rather small but sort of lucrative niche. And as mentioned, the company was founded by Nokia back in 1998. In 2012, Nokia sold Vertu to a private equity group while retaining ten percent of the shares. The following year, it released its first Android luxury smartphone, the Vertu Ti.

Luxury phone maker Vertu closes down after nearly 20 years

Ti (via vertu.com)

The Vertu Ti, for instance, is nothing but an Android smartphone equipped with a Snapdragon 801 running at 2.3GHz. However, what makes it standout are the materials used to build the device, more specifically, the display and the case.

To a commoner, the Ti’s display may look a bit off. That is because instead of the usual Gorilla Glass that most phone manufacturers use, the Ti uses sapphire. To make it even more robust, the case is made with grade-5 titanium and a combination of polished ceramic and leather. This is the sort of things that Vertu specializes in, ultra-luxurious materials at the expense of cost and design.

It is not really a surprise that Vertu eventually met its end. Its products, including the Ti, cost more than $10,000 each, and that is for the base model only. The top-of-the-line model can fetch a price tag as much as $22,000. This sort of price range can be quite excessive even for the rich and famous.

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Also read: Samsung Galaxy Note 8 Coming in August; To Fetch More Than $1,000; Blames it on Component Prices

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