Nokia rumored to be close to selling Vertu division

Nokia may finally be close to selling off its super exclusive Vertu mobile phone division. Bloomberg reports via unnamed sources that the company could announce a deal sometime later this week that would sell off Vertu to the Swedish private equity firm EQT Partners AB. Nokia stands to gain 200 million euros (about $250 million) if the deal goes through, according to the report.

Vertu, based in England, is known for its diamond studded mobile phones that costs thousands of dollars each. It was launched in 1988 by Frank Nuovo, who at the time was Nokia's chief designer. Even though 99.99 percent of the people in the world couldn't afford to buy a Vertu phone, the brand apparently commands a 60 percent share of the Western European market for so-called luxury phones.

In April, there were reports that Nokia was going to sell off Vertu to another buyer, the private equity group Permira. However, it appears those reports were either incorrect or that either Permira or Nokia pulled out of the deal.

Nokia, despite its sales success with the Lumia 900 in the US, is still bleeding cash. Some analysts believe that it will run out of its current cash reserves by as soon as sometime in 2013.

Source: Bloomberg

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12 Comments

Totalaero said,
Learn how to read you stupid ****.

They may be referring to the lack of mid sentence punctuation (a comma would help), or the sentence needs rearranging, but more likely pointing out 'should of' should have been 'should have'.

However what you wrote is perfectly readable by internet standards, and I write frequently much worse.

I'll try to tie this up as a temporary grammar police officer, but I now feel obliged to also point out adding the word 'just' doesn't add anything to the sentence, as it could either relate to time of limitation of scope therefore it perhaps should have just been:

"This is the sad truth of Nokia, they should have started making android phones."

or maybe actually better would be:

"The sad truth of Nokia is that they should have started making android phones"


lt8480 said,

They may be referring to the lack of mid sentence punctuation (a comma would help), or the sentence needs rearranging, but more likely pointing out 'should of' should have been 'should have'.

However what you wrote is perfectly readable by internet standards, and I write frequently much worse.

I'll try to tie this up as a temporary grammar police officer, but I now feel obliged to also point out adding the word 'just' doesn't add anything to the sentence, as it could either relate to time of limitation of scope therefore it perhaps should have just been:

"This is the sad truth of Nokia, they should have started making android phones."

or maybe actually better would be:

"The sad truth of Nokia is that they should have started making android phones"


Thank you grammar wh*ore.

Totalaero said,
Thank you grammar wh*ore.

Did you even bother to read what I wrote... I'll restate it:

"However what you wrote is perfectly readable by internet standards, and I write frequently much worse."

I don't have a problem with what you wrote, and I don't generally correct people in conversation in person or on-line, the only reason I did was because I found your follow reply awful.

If someone wants to advise people how to write then they should be more productive about it, and if someone want to suggest what they wrote is perfect by telling others they should learn how to read, then they should get their writing perfect.

To be honest what you both replied was ridiculous. We just all need to chill out a bit over grammar and know when to make and take constructive criticism. There is only logic to making criticism if it is needed and if constructive, which AtriusNY certainly was not.

*Note my replies are written quickly and hopefully adequately, I'm aware they are not perfect.

Totalaero said,
This is the sad truth of Nokia they should of just started making android phones.

So I guess you must have been really opposed to HTCs decision to support android right?

I mean there was a time when it had less than 1% marketshare and Symbian was the most popular smartphone OS. So I'm sure you were trolling all over the internet about how HTC was dumb and deserved to go bankrupt. Right??

LAMj said,
lol Vertu division is worth less than instagram

I see what you did there trying to make it sound cheap and getting Mark to buy it - but come on, not even Suckerberg is daft enough to buy Vertu.

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