Luxury phone maker Vertu is calling it quits

From Engadget - July 13, 2017

Vertu began life in 1998 as the ultra-ultra-premium arm of mobile giant Nokia, but as its parent company's fortunes began to wane, so did its own. By 2012, Vertu was sold to EQT VI, a private equity group, which held the company until 2015. That year, the business was sold to Godin Holdings, a Hong Kong-based company that was apparently suffering through its own cash crisis.

Earlier this year, Murat Hakan Uzan purchased the manufacturer for 50 million ($64 million), pledging to help it reach its "full potential." The Telegraph described Uzan as the "scion of an exiled and secretive Turkish business dynasty" and a member of one of "Turkey's most controversial families." Uzan had a fractious relationship with Nokia, too, after borrowing money from the company to launch a carrier in his homeland.


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