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'''Vertu''' is a British [[manufacturer]] and retailer of [[luxury goods|luxury]] handmade [[mobile phone]]s, established by [[Economy of Finland|Finnish]] mobile-phone manufacturer [[Nokia]] in 1998. In October 2012 Nokia sold Vertu to [[private equity]] group [[EQT Partners|EQT VI]] for an unspecified amount,<ref>{{cite web |url=http://www.eqt.se/en/Portfolio/Companies/Vertu/|title=EQT's Current Portfolio - Vertu |accessdate=October 7, 2012}}</ref><ref>{{cite news|url=http://www.telegraph.co.uk/technology/nokia/9332225/Vertu-it-makes-sense-for-Nokia-to-sell-us.html|title=Vertu: it makes sense for Nokia to sell us|publisher=[[The Telegraph (UK)]]|accessdate=April 28, 2013}}</ref> but retained a 10% share.<ref>{{cite web |url=http://mashable.com/2012/06/14/nokia-lay-off-10000-workers|title=Nokia will retain 10% share in Vertu|accessdate=June 15, 2012}}</ref> By the end of 2013, the company had around 350,000 customers, and phones were on sale in 500 retail outlets, including 70 run by the company.<ref>{{cite news|url= http://www.bbc.co.uk/news/technology-21387371|title=Vertu chooses Android over Windows for luxury handset|publisher=[[BBC News]]|date=February 11, 2013|accessdate=April 28, 2013}}</ref> In 2015, it was announced that EQT had sold its share of Vertu to Godin Holdings, a Hong Kong-based [[holding company]].<ref>http://www.digitaltrends.com/mobile/vertu-acquisition-baferton-news/</ref><ref name="godin" /> In 2017 the company collapsed after plans to save it failed.<ref>{{Cite news|url=http://www.bbc.com/news/technology-40593936|title=Luxury phone-maker Vertu collapses|last=Baraniuk|first=Chris|date=2017-07-13|work=BBC News|access-date=2017-07-13|language=en-GB}}</ref>
'''Vertu''' is a British [[manufacturer]] and retailer of [[luxury goods|luxury]] handmade [[mobile phone]]s, established by [[Economy of Finland|Finnish]] mobile-phone manufacturer [[Nokia]] in 1998. In October 2012 Nokia sold Vertu to [[private equity]] group [[EQT Partners|EQT VI]] for an unspecified amount,<ref>{{cite web |url=http://www.eqt.se/en/Portfolio/Companies/Vertu/|title=EQT's Current Portfolio - Vertu |accessdate=October 7, 2012}}</ref><ref>{{cite news|url=http://www.telegraph.co.uk/technology/nokia/9332225/Vertu-it-makes-sense-for-Nokia-to-sell-us.html|title=Vertu: it makes sense for Nokia to sell us|publisher=[[The Telegraph (UK)]]|accessdate=April 28, 2013}}</ref> but retained a 10% share.<ref>{{cite web |url=http://mashable.com/2012/06/14/nokia-lay-off-10000-workers|title=Nokia will retain 10% share in Vertu|accessdate=June 15, 2012}}</ref> By the end of 2013, the company had around 350,000 customers, and phones were on sale in 500 retail outlets, including 70 run by the company.<ref>{{cite news|url= http://www.bbc.co.uk/news/technology-21387371|title=Vertu chooses Android over Windows for luxury handset|publisher=[[BBC News]]|date=February 11, 2013|accessdate=April 28, 2013}}</ref> In 2015, it was announced that EQT had sold its share of Vertu to Godin Holdings, a Hong Kong-based [[holding company]].<ref>http://www.digitaltrends.com/mobile/vertu-acquisition-baferton-news/</ref><ref name="godin" /> In 2017 the company collapsed after plans to save it failed<ref>{{Cite news|url=http://www.bbc.com/news/technology-40593936|title=Luxury phone-maker Vertu collapses|last=Baraniuk|first=Chris|date=2017-07-13|work=BBC News|access-date=2017-07-13|language=en-GB}}</ref> and went out of business in early July 2017, leaving its residual staff of 200 unemployed<ref>{{Cite web|url=http://pocketnow.com/2017/07/13/vertu-closes-for-business-immediately-liquidates-and-cuts-200-jobs|title=Vertu closes for business, cuts 200 jobs|last=Wang|first=Jules|date=2017-07-13|website=Pocketnow|access-date=2017-07-14}}</ref>.


==Concept==
==Concept==

Revision as of 07:25, 14 July 2017

For art, see Vertu (collections). For the qualities, see Virtù and Virtus (virtue).
Vertu
Company typeSubsidiary
IndustryTelecommunications
Founded1998
FounderNokia
HeadquartersChurch Crookham, Hampshire, England, United Kingdom
Area served
Worldwide
ProductsLuxury mobile phones
Number of employees
1000
ParentGodin Holdings[1]
WebsiteVertu.com

Vertu is a British manufacturer and retailer of luxury handmade mobile phones, established by Finnish mobile-phone manufacturer Nokia in 1998. In October 2012 Nokia sold Vertu to private equity group EQT VI for an unspecified amount,[2][3] but retained a 10% share.[4] By the end of 2013, the company had around 350,000 customers, and phones were on sale in 500 retail outlets, including 70 run by the company.[5] In 2015, it was announced that EQT had sold its share of Vertu to Godin Holdings, a Hong Kong-based holding company.[6][1] In 2017 the company collapsed after plans to save it failed[7] and went out of business in early July 2017, leaving its residual staff of 200 unemployed[8].

Concept

A Vertu Signature phone in stainless steel, released 2003
A Vertu Constellation Axyta on display, released 2009
Old Bond Street boutique, London
Shop in Ginza, Japan in 2009

According to The Economist the concept was to market phones explicitly as fashion accessories, with the idea "if you can spend $20,000 on a watch, why not on a mobile phone?".[9] Vertu phones, or "'mobile communications instruments"[10] are made in its factories in Church Crookham, Hampshire, England. Handsets are sold through an emphasis on craftsmanship, style and service, rather than mobile phone functions.[9] The business is based in the United Kingdom with offices in New York City, Dubai, Moscow, Frankfurt, Hong Kong, Paris and Singapore. In November Massimiliano Pogliani was replaced by Billy Crotty as Vertu's CEO, who in turn was replaced by Gordon Watson three months later.[11][12] The business has around 1000 employees.

Collection

Vertu was launched in January 2002 and the first collection available later that year.[13] The flagship model "Signature" was launched in 2003. Its key pad contains nearly 5 carats of ruby bearings. Other models include Ascent (2004), Constellation Classic (2006), Constellation Ayxta (2009), among others. Ascent phones are designed to be lightweight and durable, made of aluminium or titanium with vulcanised rubber and leather. The Classics are simple and small handsets. Ayxtas are flip phones that come in numerous variants and colors.

The Constellation Quest is the first smartphone by Vertu, equipped with a full QWERTY keyboard made from sapphire sculpted keys. Announced in October 2010, it is similarly styled to Nokia E72 and runs Symbian S60 operating system. It was priced from £5,000 (stainless steel and leather) to £17,300 (yellow gold).[14] This was followed by Constellation in October 2011, the company's first touchscreen model.[15] In February 2013 the Vertu Ti was the first Vertu handset after Nokia's sale, and uses the Android operating system instead of Symbian. This was followed in June 2014, by Signature Touch.[16] The Signature Touch is a top-tier device running a 2.3 GHz quad core Snapdragon 801 processor. It comes with a 4.7 inch 1080p display, 64GB storage, LTE, NFC and Qi wireless charging.[17] The Signature Touch's price ranged $10,300/€7,900 for the base model to maximum price of $21,900/€16,900 for the Pure Jet Red Gold.[18]

Vertu has also made limited edition handsets in collaboration with Ferrari,[19] and Bentley.[20]

The 2015 version of the Signature Touch was the latest Vertu handset before the company collapsed in 2017.

Distribution

Vertu is available from around 500 stores, including 70 Vertu Boutiques, in 66 countries.[21]

Vertu phones are available in its own branded stores, concessions in leading department stores such as Harrods and Selfridges in London, and other authorised retailers such as Tourneau in the U.S, in Parizska street in Prague and DLF Emporio, New Delhi, India. Beijing's Oriental Plaza in the Wangfujing shopping district has a Vertu boutique.

There are three Vertu Boutiques in the United States, located on Madison Avenue in New York City, the Wynn Las Vegas resort and casino, and Rodeo Drive in Beverly Hills.[citation needed]

There are a number of stores in Dubai, such as in the Mall of the Emirates, the Dubai Mall, and the Burjuman Mall.[citation needed]

Criticism

Vertu phones have been described as "tasteless trash" by Wired magazine,[22] and "technologically modest" by the Financial Times.[23] They are often described as bling.

See also

References

  1. ^ a b "Luxury British phone maker Vertu sold to Chinese investors as CEO steps down". International Business Times. 2015-11-03. Retrieved 2015-11-04.,
  2. ^ "EQT's Current Portfolio - Vertu". Retrieved October 7, 2012.
  3. ^ "Vertu: it makes sense for Nokia to sell us". The Telegraph (UK). Retrieved April 28, 2013.
  4. ^ "Nokia will retain 10% share in Vertu". Retrieved June 15, 2012.
  5. ^ "Vertu chooses Android over Windows for luxury handset". BBC News. February 11, 2013. Retrieved April 28, 2013.
  6. ^ http://www.digitaltrends.com/mobile/vertu-acquisition-baferton-news/
  7. ^ Baraniuk, Chris (2017-07-13). "Luxury phone-maker Vertu collapses". BBC News. Retrieved 2017-07-13.
  8. ^ Wang, Jules (2017-07-13). "Vertu closes for business, cuts 200 jobs". Pocketnow. Retrieved 2017-07-14.
  9. ^ a b "The origins of Vertu". The Economist. February 20, 2003. Retrieved April 28, 2013.
  10. ^ Jonathan Margolis (December 5, 2008). "Bling bling! The £1m mobile, hand-crafted in solid gold and encrusted with jewels - just don't leave it on the train..." Mail Online. Retrieved April 28, 2013.
  11. ^ Richard Lai. "Chinese-owned Vertu vows to keep making luxury phones in the UK". Engadget. AOL.
  12. ^ "Vertu's sudden CEO swap spells trouble after Chinese buyout". Engadget. 2016-02-09. Retrieved 2016-03-06.
  13. ^ http://www.nokia.com/en_int/news/releases/2002/01/21/vertu-launches-the-worlds-most-exclusive-instrument-for-personal-communication
  14. ^ https://www.cnet.com/uk/news/vertu-constellation-quest-the-blingtastic-17300-smart-phone/
  15. ^ "Vertu Launch Party: Hollywood Stars Try Out the New Constellation". October 19, 2011. Retrieved April 28, 2013.
  16. ^ "Vertu's Signature Touch combines top tech with a concierge". Wired UK.
  17. ^ "$22,000 VERTU ANDROID PHONE? SURE!". Top Mobile Trend. 6 January 2016. Retrieved 22 July 2016.
  18. ^ Richard Lai. "Vertu's Signature Touch puts the luxury back into specs". Engadget. AOL.
  19. ^ "Vertu, Ferrari Team Up for Titanium Phone"[permanent dead link],
  20. ^ "Want to really impress at the boat club? Get a Bentley premium smartphone made by Vertu",
  21. ^ Vertu (3 October 2013). "Vertu Presents New Constellation at One Mayfair, London - A New Kind of..." prnewswire.com.
  22. ^ Rob Beschizza (March 19, 2008). "Eight Things We Pretend to Care About, But Don't". Gadget Lab. Retrieved April 28, 2013.
  23. ^ "Nokia prepares to lose its bling tone". Financial Times.
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