After many years of financial struggle and constant change of the managing board, Vertu has finally fallen. The last hope for this Nokia’s former manufacturing department of luxury phones was a Turkish businessman Hakan Uzan who had a bit tricky history with Nokia. Well, the decision to handle him Vertu was fatal for this British company and 200 of its workers. But, the last owner isn’t only one to blame. Vertu phones were usually outdated and overpriced if you compare them with more capable and technically richer conventional top models. For its huge price, Vertu gave to the owners something they couldn’t experience anywhere, premium materials, craftsmanship and unique 24/7 features, but that isn’t enough today.
Vertu was founded in 1998 by Nokia and 90% of the company was sold to the EQTVI back in 2012 when Nokia was trying to stand on its feet. After EQT came Chinese trust fund Goldin Holdings who sold it to the Turkish businessman back in March 2017. Hakan promised to invest a huge amount of capital to the Vertu but that didn’t happen. So, the company went into bankruptcy while Hakan held brand, technology, and license, We know that his idea was to bring TCL (current licensee of the Alcatel brand, which is by the way owned by Nokia now) to help him restore the value of the Vertu brand but now it could even happen since he is free of the company. But, that won’t be Vertu, handmade super luxurious smartphone with a touch of Nokia’s great past.