Luxury brands like 'Vertu' has already been ruling the luxury markets, now Nokia the Finnish company is planning to make entry to the luxury market. Although the project is still in early stages but the plan is almost confirmed, the report was first made by Economic Times.
The newspaper mentioned that a person close to Nokia on the project has confirmed that Nokia has appointed Goldman Sachs to oversee the sale of its UK subsidiary, but talks are still at an early stage. Vertu, which makes luxury handmade phones, has yet to be given a value, although annual revenue is estimated to be between 200 million euros and 300 million euros ($268 million and $402 million).
With the recent growth of Vertu, it has attracted attention of many luxury goods brands, given its emerging market customer base and the potential for cross-selling.
We will still have to wait few more months to get a final picture
