Nokia to sell off Vertu brand

Nokia is understood to be close to selling off its luxury phone brand Vertu as it looks to focus on its core assets in a bid to turnaround its business.


Vertu sells some the world’s most expensive phones, handmade with precious gems and metals. The brand is popular in Asia and the Middle East.

The sale of Vertu will give Nokia a much-needed cash injection in the same month its credit rating was cut to junk status by Standard & Poor’s.

Private equity group Permira has been cited by the Financial Times as the company looking to acquire the brand, for about £162m.

Nokia is bidding on its Lumia range of smartphones, first launched last year, to help it return to profit and better compete with its rivals. Samsung overtook Nokia to become the world’s largest phone maker last quarter, helped by its high end range of Galaxy smartphones.

The Lumia range is being supported with increased investment in marketing and innovation as Nokia looks to broaden its appeal to new audience segments and emerging markets.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here