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Vertu shuts down unable to pay its bills |
Tsepz_GP
Joined: Dec 27, 2006
Posts: > 500
From: Johannesburg, South Africa
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This is quite sad, I know many years ago here at Esato we had a few members who were lucky enough to own some of these luxurious devices.
Super-luxury phone maker Vertu shuts down unable to pay its bills
A couple of weeks ago, controversy stirred around UK-based luxury smartphone maker Vertu and its transfer of ownership. Its old owner — Hong Kong hedge fund manager Gary Chen — claimed that he still hasn't received the £50 million ($61 million) he was supposed to get for selling the company to businessman Hakan Uzan back in March. The latter, on the other hand, claimed that his plans to invest £1.9 million ($2.46 million) in the business and get it back on its feet crumbled when he found out that Vertu has £128 million ($165.5 million) in unpaid bills, salaries, and debts. Ouch! Both sides threatened to sue each other and the fate of about 200 workers was hanging in the balance.
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yuunanase
Joined: Sep 30, 2006
Posts: 291
From: utopia
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Pity, this is the only brand I found appealing after Sony.
venus, kiki, vulcan, rachael, anzu, akane, nozomi, hikari, hayabusa, tsubasa, yuga, togari, honami, sirius, leo, ivy, surime |
tranced
Joined: Jan 19, 2006
Posts: > 500
From: Santo Domingo, wonDeRland
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Wow. Never saw it coming.
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Supa_Fly
Joined: Apr 16, 2002
Posts: > 500
From: Toronto, Ontario
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VERY sad news indeed!
Poor financial management and investment. So who actually took the business from Nokia originally?!
Fun Fact: 50 Shades Darker main character features using a Vertu Android phone.
Wonder what the best Android phone they have made and is it worth buying at rock bottom pricing?!
|AppleTV2|iPhone 12Mini 256GB|iPad Pro 256GB| Previously ...  K750|Z500|Z520|K700|K790i|K850i, :Ericsson: T18z|T28World|T36m x3|T68m (Ericsson, not the rebranded T68i). |
Ranjith
Joined: Dec 07, 2004
Posts: > 500
From: Saudi Arabia/India,Cochin
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How did they survive for so long? People use to actually buy them??
I ESATO I W1i  T20,T65, P800(2x),K800,Z300,  800, 850 (2x),P1i(with WALKMAN) |
genes1983
Joined: Jul 19, 2017
Posts: 1
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That's really a sad story, poor financial management may be the key issue behind. Luxury competition seems not that extent in mobile phones, management should rethink to know where actually deviations went.
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Tsepz_GP
Joined: Dec 27, 2006
Posts: > 500
From: Johannesburg, South Africa
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Vertu auctioning off ‘leftover’ phones, starting at $26,000
http://www.androidauthority.c[....]ng-off-leftover-phones-792957/
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Posted: 2017-07-13 13:50
jay0726 | 
T20,T65, 
800, 
