Vertu phone operations slowing down

[Edwardk326]

 

I know this might be old news but I just found out the Vertu company hasn't been doing too well. I don't know what people (who still own Vertu phones) are going to do since they'll have limited support (I assume) and how will they fix their phones if it gets damaged (yikes). I personally myself don't own a Vertu phone never made had the money and even if I did I could never justify coughing up roughly $6,000 or $10,000 (at minimum) for a phone that felt like a fancy overdone Nokia 8800 (my dad owned the carbon edition). Anyways back to the topic at hand, The Telegraph a states that, 

 

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"Vertu will be liquidated with the loss of nearly 200 jobs after a rescue plan failed."

According to The Financial Times The owner Murat Hakan Uzan (a Turkish exile living in Paris) intends to keep the company.

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"Mr Uzan will, however, keep the Vertu brand, technology and design licences. He plans to rebuild the luxury phonemaker, according to a person familiar with the situation."

This seems unlikely when according to Digital Trends states that: 

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"...complaints wages are overdue, and pension contributions are being removed from salaries without being paid into retirement schemes. These grievances were listed to Vertu management in a letter, but no explanation was given."

 

According to Digital Trends, the problems don't end there: 

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"Suppliers calling in debts apparently include Qualcomm and Microsoft, which sub-leases the buildings Vertu uses, after acquiring them when it acquired Nokia. Outstanding bills extend beyond Vertu’s technical partners and into waste management, pest control, and other property services, according to the Telegraph’s sources. Mr. Uzan promised to invest in Vertu when he took over, to allow the company..."

According to Digital Trends, there is a legal battle between the former owner (Gary Chen) and the new owner (Mr Uzan).

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"A legal fight between new owner Uzan and former owner Gary Chen, who managed the hedge fund which sold Vertu to Uzan earlier this year, is brewing. Chen claims he has not received payment from Uzan following completion of the sale, while Uzan claims the level of debt and other aspects of the business were concealed from him, and only became apparent after he took control. The pair are now threatening to sue each other, and there are worries Vertu will not survive if the lawsuits happen."

 

Sources:

Vertu phones slowing down their operations - The Verge

 

Vertu manufacturing arm faces liquidation after rescue bid fails - The Telegraph.co.uk

 

A legal battle is brewing around U.K. phone brand Vertu - Digital Trends

 

Luxury phonemaker Vertu wound up with loss of 200 jobs - The Financial Times

Edited May 3, 2018 by Edwardk326
My post did not follow the community guide lines

[Murasaki]

they still existed? damn.

[IronSoldier]

It's all shut down now. I live nearby and regularly drive past the building. For months after the announcement there were police/private security and lories taking away valuable items and securing the premises. It now is empty and main gate has been chained up. 

[Guest The Viking]

vertu failed a longtime ago, yeah.

 

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The resulting phones were technologically antiquated (they ran old version of Android using last year’s processors) but uniquely extravagant, with some handsets costing in excess of $30,000.

 

summary of why they failed.

 

New luxury brand in town is Porsche Design 

[kokakolia]

6 hours ago, The Viking said:

vertu failed a longtime ago, yeah.

 

 

summary of why they failed.

 

New luxury brand in town is Porsche Design 

Same lame Android phone with ugly skin, new “Porsche Design” logo.

[Guest The Viking]

5 minutes ago, kokakolia said:

Same lame Android phone with ugly skin, new “Porsche Design” logo.

you can buy gold platted iphones. I won't show you the way, you can find it yourself.

[kokakolia]

Just now, The Viking said:

you can buy gold platted iphones. I won't show you the way, you can find it yourself.

Yeah! I saw the Unbox Therapy video. I’ll just stick to my iPhone 7.

[SansVarnic]

-= Moved to General Discussion =-

For not meeting the guideline for a proper post.

 

OP please update your post to meet the below guidelines for posting in the News and Review Section and it may be moved back.

 

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[Edwardk326]

2 hours ago, SansVarnic said:

-= Moved to General Discussion =-

For not meeting the guideline for a proper post.

 

OP please update your post to meet the below guidelines for posting in the News and Review Section and it may be moved back.

 

 

I am very sorry about this as such I have edited the post according to the community guidelines posted. Thank you, Sir, and again I apologise for the error I made.

 

Sincerest regards edwardk326  

[Hiitchy]

This sounds like a Cat fight waiting to happen.