Nokia, facing fierce competition to remain the world’s top mobile phone maker, plans to sell its luxury unit Vertu that makes niche handsets, AFP reported, citing the Financial Times.
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 and 300 million euros ($268-402 million).
Nokia refused to comment on the report.
“We can’t comment on those reports,” Nokia spokesman James Etheridge told AFP.
Vertu was established in 1998, when the concept of haute-couture mobile telephony was approved by the board of leading mobile handset maker Nokia.
Armenian News
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