Finland based Smartphone makers Nokia is in advanced talks to sell its British subsidiary Vertu to private equity firm Permira. In recent months Nokia has been struggling to compete with the likes of Apple and Samsung. Last week Samsung ended Finland-based Nokia’s 14-year run as the world’s top handset maker. Currently Permira is in discussions to acquire Vertu in a deal that will raise about €200m for Nokia, which is better known for its once-dominant mass market phone ranges.
Vertu produces some of the most expensive Smartphone in the world by hand, which can feature crystal displays and sapphire keys. Its Smartphone can cost more than 200,000 million pounds (S$400.06 million) due to the precious metal components. Goldman Sachs is suggesting Nokia on the sales process. Nokia and Permira declined to comment and people familiar with the process cautioned that the outcome of the sale was not yet certain. What do you think? Let us know in the comments below.