Nokia negotiates Vertu with EQT Partners

Vertu phones are among the best in their segment. Yes, their functionality is not all good, but very few people buy them for the sake of software capabilities. No, these are premium phones that can be called “status” - in any case, Nokia is trying to show them from this angle. Vertu-phones are worth a lot, and make a profit. But for Nokia, this is still a non-core asset that can be sold, and get some money for other projects.

Now the corporation is negotiating with the Swedish foundation EQT Partners to sell Vertu. Experts believe that the cost of the transaction may be approximately 200 million euros. True, the contract between the companies has not yet been concluded, and the transaction may not take place at all. But for Nokia, getting an additional 200 million euros is a good option, since the Finnish company is not doing well with finances.
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As for Vertu, this is a “company within a company,” so to speak. The unit is autonomous, and works by itself, bringing a certain profit. True, the new Vertu models have not been released for a long time. The latest model was released two years ago, in 2010. Actually, the characteristics of most Vertu just remained at the level of 2008-2010. Nokia obviously has neither the time nor the resources needed to update the line.

Well, the sale of such an asset can help kill two birds with one stone - get additional funds and get rid of the need to develop new Vertu models. Previously, Permira expressed a desire to buy out this division, but it did not come to the immediate purchase.

Via ft.com