Vertu
| Company type | Private |
|---|---|
| Industry | Mobile phones, luxury goods |
| Predecessor | Nokia (initial owner) |
| Founded | 1998 |
| Founder | Frank Nuovo (concept originator) |
| Fate | Bankruptcy in 2017; brand continues under disputed ownership |
| Headquarters | United Kingdom (originally) , United Kingdom (originally) |
Area served | Worldwide |
Key people | Massimiliano Pogliani (former CEO), Billy Crotty (former CEO), Gordon Watson (former CEO) |
| Products | Handcrafted luxury mobile phones, watches, concierge service |
| Owner | Disputed between organizations in Hong Kong and France |
Number of employees | Approx. 200 (before 2017 liquidation) (2017) |
| Parent | Vertu AK France (current parent company) |
Vertu (presented as VERTU) is a creator and distributor of handcrafted luxury mobile phones, founded in 1998 and initially owned by the Finnish telecommunications company Nokia. Although originally based in the United Kingdom, the brand's ownership is currently disputed between two organizations located in Hong Kong and France.[1] Vertu continues to develop new upscale phone models and watches, operating through its network of 16 retail outlets.[2]
Concept
As reported by The Economist, the brand’s strategy was to position mobile phones explicitly as fashion statements, based on the premise that "if you can spend $20,000 on a watch, why not on a mobile phone?"[3] The idea originated from Italian designer Frank Nuovo, who previously served as Nokia’s chief designer.[4] He introduced the luxury concept to Nokia’s executive board, which approved it by the end of 1998. At that period, Nokia had also launched their initial luxury handset, the 8850.[5] The products branded as "Vertu" were officially unveiled in Paris in 2002 and operated under a distinct subsidiary owned by Nokia.[6][7]
Earlier Vertu devices have been criticized by Wired as "tasteless trash",[8] while the Financial Times described them as "technologically modest".[9] These phones are frequently labeled as examples of bling culture.
Vertu owners could also access an exclusive concierge service. This service allowed clients to contact a personal assistant anytime and anywhere, providing access to a variety of offerings such as information retrieval, booking tickets, making restaurant reservations, among others. The fee for this service was split into two components: customers paid their operator’s call charges plus a concierge subscription. Two tiers were available: a basic plan costing approximately €89 per month and a VIP option priced at €300.
Models and Collections
The premier Signature series debuted in 2003, featuring a keypad embedded with nearly 5 carats of ruby bearings. The entire keypad mechanism was uniquely patented in Switzerland.
Although the Vertu Signature received favorable reviews, its impressive craftsmanship and enthusiastic public interest did not ensure commercial success. At launch, only a limited number of prototypes existed, with retail availability scheduled for summer 2003.
In 2004, Vertu introduced the Ascent series as a more accessible entry-level offering, inspired by high-end sports cars like the Ferrari F430. Designed to be both lightweight and robust, all Ascent models incorporated European calf leather and an amorphous metal alloy known as Liquidmetal, which boasts greater durability than aerospace-grade titanium and offers scratch resistance five times superior to stainless steel.
During 2006 and 2007, two exclusive collections within the Ascent range were launched: Racetrack Legends and Summer Season.
The Racetrack Legends collection paid tribute to iconic global racing circuits, comprising six models named Monaco, Le Mans, Silverstone, Monza, Indianapolis, and Nurburgring. The Summer Season collection included the Strawberry and Cream Limited Editions; the Strawberry edition featured scarlet leather with a strawberry-like texture, while the Cream edition was crafted from beige leather.
In 2006, Vertu also unveiled the Constellation series targeting the mid-range market, alongside the Aerius Bluetooth Headset designed by Jacob Jensen Design. The Constellation line drew design inspiration from private jet aesthetics.
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Vertu Aerius Bluetooth Headset, introduced in 2006 -
Vertu Signature model in stainless steel, launched in 2003 -
Vertu Constellation Ayxta on display, released in 2009 -
Boutique on Old Bond Street, London
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Retail outlet in Ginza, Japan, 2009
The Constellation Quest marked Vertu’s first smartphone, featuring a full QWERTY keyboard with keys carved from sapphire. Revealed in October 2010, it bore resemblance to the Nokia E72 and operated on the Symbian S60 platform. Pricing ranged from £5,000 for stainless steel and leather versions up to £17,300 for yellow gold variants. This was succeeded by the Constellation touchscreen model in October 2011. In February 2013, following Nokia’s divestment, Vertu released the Vertu Ti—their first device running on the Android platform rather than Symbian. Subsequently, in June 2014, the Signature Touch was introduced. The Signature Touch’s pricing spanned from $10,300/€7,900 for basic models to over $50,000/€44,000 for the Pure Jet Red Gold edition.
Vertu collaborated with luxury automotive brands such as Ferrari and Bentley to produce limited edition handsets.
The final Vertu handset issued before the company’s 2017 bankruptcy was an updated version of the Constellation.
After emerging from bankruptcy in 2018, Vertu launched the Aster P smartphone at an event held in Beijing that October.
On October 24, 2022, Vertu unveiled its inaugural device under the new METAVERTU collection. Marketed as the "world’s first Web3 phone," it integrated dual AI systems alongside Web3.0 blockchain technology serving as a core security feature and included a built-in image-to-NFT converter. The METAVERTU hardware incorporated a 6.67-inch AMOLED screen, Qualcomm’s Snapdragon 8 Gen 1 processor, up to 18GB RAM capacity, and a triple camera setup equipped with premium lenses.
History
Vertu devices were manufactured at facilities located in Church Crookham, Hampshire, England. The brand focused its sales strategy on exceptional craftsmanship, elegant design, and premium customer service rather than emphasizing the technical features of the mobile phones. The company's headquarters were situated in the United Kingdom, with additional offices established in New York City, Dubai, Moscow, Frankfurt, Hong Kong, Paris, and Singapore.
In October 2012, Nokia divested Vertu to the private equity firm EQT VI for an undisclosed sum, while retaining a 10% ownership stake. By late 2013, Vertu had amassed approximately 350,000 customers and distributed its products through 500 retail locations, including 70 directly operated stores. In 2015, EQT sold its interest in Vertu to Godin Holdings, a holding company based in Hong Kong. Subsequently, leadership changes occurred: Massimiliano Pogliani was succeeded by Billy Crotty as CEO in November 2015, who was then replaced by Gordon Watson three months later.
In March 2017, Godin Holdings transferred ownership of Vertu to Baferton Ltd., a Turkish company headquartered in Cyprus. By July 2017, the new owners sought bankruptcy protection through the courts; after unsuccessful rescue efforts, the company entered voluntary liquidation. Vertu Corporation Ltd was liquidated, resulting in approximately 200 remaining employees being left unpaid and unemployed. Vertu AK France serves as the parent company overseeing Vertu Corporation, enabling the brand to continue operations today with manufacturing shifted to China. Creditors affected by the 2017 insolvency received final payments from court-appointed receivers in the summer of 2025 at a rate of £0.0067 per pound owed (equivalent to £6.70 per £1,000).
In May 2020, the now-vacant factory and office complex in Church Crookham, which had been empty since July 2017, was demolished to clear space for a new retail park.
See also
References
- ↑ Williams, Andrew. "We Tried Vertu's 'Web3' Phone. It Scared Us". Wired.
- ↑ "Store Locations". Vertu. Retrieved 6 April 2025.
- ↑ "The origins of Vertu". The Economist. 20 February 2003. Retrieved 28 April 2013.
- ↑ Wallace, Amy (17 April 2010). "At Vertu, Designing Six-Figure Cellphones". The New York Times.
- ↑ "Nokia targets rich with luxury mobile phone range". 14 January 2002.
- ↑ "A Mobile Phone For The Superrich". Forbes.
- ↑ "The origins of Vertu". The Economist. 20 February 2003.
- ↑ Rob Beschizza (19 March 2008). "Eight Things We Pretend to Care About, But Don't". Wired. Gadget Lab. Retrieved 28 April 2013.
- ↑ "Nokia prepares to lose its bling tone". Financial Times.