The end of the line for this luxury phone manufacturer
British-based Vertu, maker of jewel-encrusted, gold-plated handsets, is facing liquidation after financial difficulties. Vertu phones are tagged at extravagant prices, ranging from its Signature series, which starts at EUR 11,100 (~Php 641K) to phones clad in 18-carat red gold costing a whopping EUR 39,100 (~Php 2.258M).
BBC News tried to contact the company’s spokesperson for a statement but was replied with this instead: “Well it’s gone into liquidation and I’m not being paid by them anymore.”
According to BBC News, Vertu was sold by its former Chinese owner to a certain Hakan Uzan, a Turkish native residing in Paris, France. Mr. Uzan was reportedly planning to pay EUR 1.9M to bring the company out of administration, but it had an accounting deficit amounting to EUR 128M. He will be retaining the Vertu brand, technology, and licenses after the liquidation procedures.
Vertu was originally founded by Finnish smartphone manufacturer Nokia in 1998 and was eventually sold to a Chinese investor in 2012.
But, never fear, millionaires and billionaires of the world looking for gold-plated, diamond-padded devices! Russia’s Caviar is still at it.