Nokia announced that it was selling its luxury division Vertu way back in June and now all the papers have been drawn up and the sale has been finalised.
The sale sees Vertu taken over by Swedish Investment company EQT VI, although Nokia still retain a 10 per cent share in the company. As part of the deal 1,000 Vertu employees are being transferred although we doubt much will change for the employees in reality.
Vertu make some of the most luxurious smartphones in the world including the Ferrari branded Constellation Quest (pictured above). Most of their mobiles cost thousands of pounds with some even reaching hundreds of thousands, so they arn't really accessible to normal people and tend to be favourites of celebrities and Russian oligarchs.
Vertu will continue to make the luxury mobiles like always and we don't see the sale affecting the consumer at all. We'll continue to report on new Vertu smartphones when they get announced, even if it is only to dream about owning one.
By Simon Thomas on 15th October, 2012