Nokia in talks to sell Vertu
June 14 , 2012
Finnish mobile phone maker Nokia is in talks with private equity group EQT to sell its luxury handset subsidiary Vertu for $249 million.
Sources familiar with the matter said a deal could be signed by the end of the week.
Vertu makes some of the world's most expensive mobile phones, often featuring crystal displays and jewelled keys. The phones can cost up to $310,000 despite lacking advanced technological features.
Nokia, once the world's leading mobile phone company, is now struggling with a falling market share and is seeking to sell "non-core assets".