08 Dec '11, 12pm

Nokia plans to sell luxury phone unit Vertu

Nokia plans to sell luxury phone unit Vertu

File photo of Vertu Constellation smartphone. Nokia, facing fierce competition to remain the world's top mobile phone maker, plans to sell its luxury unit Vertu that makes niche handsets, the Financial Times reported. -- PHOTO: VERTU HELSINKI (AFP) - Nokia, facing fierce competition to remain the world's top mobile phone maker, plans to sell its luxury unit Vertu that makes niche handsets, the Financial Times reported on Thursday. No buyer was mentioned and the sale is still in the early stages, the newspaper said, noting that Vertu has yet to be given a value though annual revenue is estimated to be between 200 million euros (S$344 million) and 300 million euros. Nokia refused to comment on the report. 'We can't comment on those reports,' Nokia spokesman James Etheridge told AFP. Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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