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luxury smartphone

34

Luxury smartphone maker Vertu is shutting down

Luxury smartphone maker Vertu is shutting down

British luxury smartphone maker Vertu has been dealing with financial woes as of late, but it looked like the company might be able to pull out of its death spiral following an acquisition by Turkish businessman Murat Hakan Uzan. Vertu's new owner has apparently realized how hard it is to sell phones that cost tens of thousands of dollars. After trying and failing to settle the company's debts, Uzan is throwing in the towel. Vertu is closing up shop.

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25

This will surprise nobody: Luxury phone maker Vertu is in trouble

This will surprise nobody: Luxury phone maker Vertu is in trouble

For anyone who understandably hasn't heard of it, Vertu is the previously Nokia-owned luxury smartphone maker that tries to convince celebrities and the super rich to shell out up to $50,000 on extravagant devices made from materials such as sapphire and platinum. Vertu phones have tended to be ugly and underpowered, and its business model seems to rely on the adage that wealthy people love to decorate themselves with expensive, superficial accessories. It would appear that even those with money to burn still prioritize a decent smartphone experience, however, and Vertu may be finding that out the hard way.

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