Nokia has sold off its luxury mobile phone brand Vertu.
The company said today that EQT VI, a private equity group in Northern Europe, has acquired Vertu. The terms of the deal were not disclosed, but after it closes at the end of the second quarter, Nokia plans to hold a 10 percent minority stake in the brand.
Back in April, Nokia was rumored to be mulling a Vertu sale. At that time, the company was reportedly being wooed by another private equity group for a deal valued at $265 million.
Vertu came on the mobile scene in 1998, and … Read more