In recent years, so many things have changed in the mobile phone industry.
So many famous and top notch companies have collapsed while new ones have emerged and are striving. According to reports from various news media, Vertu will be joining the former.
The British luxury mobile phone company is shutting down its UK manufacturing plant. Nokia created Vertu which was head quartered in Church Crookham, United Kingdom in the year 1998 to build pricey high-end phones for its wealthy customers.
In 2012, Nokia sold Vertu to private equity group EQT VI for an amount they didn’t release to the general public, but they still held on to 10% of the company shares.
By 2013, things were still moving on well in the company, and they have approximately 350,000 customers and phones were on sale in 500 retail outlets.
The company started collapsing gradually by 2015 when EQT sold its share of Vertu to Godin Holdings, a Hong Kong-based holding company.
Fast-forward to 2017, the company collapsed, and they are currently gasping for breath to stay alive in the phone industry.
Vertu’s phones are so expensive that the least mobile phone from them could be starting from 11,000 USD. Their concept is to sell phones more like fashion accessories than a cell phone. Their phones body will always flourish with precious metals, fine and hand-cut leather, gold plating which will make the phone so expensive that only the wealthy can purchase it.
Among the flourishing body, their phones are made up of; their phones also have super-secure communication systems.
In recent years, nobody cares for all these things anymore, iPhones and the new sleek looking Android smartphones popping up on a daily basis have taken the eyes of their customers away from them. People now prefer phone’s usability and features rather than gold plated body and flourishing appearance.
The last stand vertu took to reach an agreement with TCL; this agreement entails that TCL will use their technology for its smartphones. New phones will be manufactured under TCL partnership, and the scheduled launch has been fixed on this September.