Vertu was just sold to Baferton Ltd. for about £50 million ($61 million), according to a report from The Daily Telegraph. Vertu offers customers and on-demand concierge service and ability to personalise handset by encrusting it with jewels. There are three Vertu Boutiques located on Madison Avenue in New York City, Wynn Las Vegas resort and on Rodeo Drive in Beverly Hills, California.
Vertu is a powerful brand with an acknowledged market niche. I look forward to working with the team and providing the investment to enable Vertu to realize its full potential.
Spokesman for Hakan Uzan told the Daily Telegraph.
Read more on Tech Crunch: Luxury phone maker Vertu changes hands yet again
Baferton shares our vision: 1.5 billion smartphones are sold each year, and there is demand for a high-quality, exclusive product with associated services. Working with Baferton, we’ll be equipped to develop the Vertu business, the brand and the service.
Gordon Watson, Vertu’s chief executive said.
Read more on Androidheadlines: Exclusive Vertu Bought By Rich Turkish Tycoon
Source: The Daily Telegraph: Turkish exile snaps up smartphone maker Vertu for £50m