Nokia could sell luxury Vertu brand to VC firm for $265 million

Source: http://www.engadget.com/2012/04/30/nokia-vertu-vc-firm-permira/

Nokia could sell luxury Vertu brand to VC firm for $265 million

As much as it’d be interesting to see Windows Phone running on a $21,000 gold-plated cigar lighter, that’s probably never going to happen. According to the UK’s Financial Times, Nokia has been trying to hive off its luxury Vertu brand for months already, and has finally found a suitor with the right cash / sense ratio. Although still far from a done deal, we’re told that venture capitalist firm Permira is willing to contribute up to $265 million to Nokia’s needy coffers — which might sound like a lot, but is mere costume jewelry to a manufacturer that just lost $1.7 billion.

Nokia could sell luxury Vertu brand to VC firm for $265 million originally appeared on Engadget on Mon, 30 Apr 2012 03:04:00 EDT. Please see our terms for use of feeds.

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By: Dr. Augustine Fou Monday, April 30th, 2012 news

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