Vertu – luxury phone

Vertu was established in 1998 and is part of the Nokia brand. In 2012, the Finnish business sold Vertu to EQT. In 2015, Vertu changed ceo to Godin Holdings (China). In March 2017, Baferton (Turkey) bought this company. However, just 4 months later, Baferton’s owner Murat Hakan Uzan failed to save Vertu from bankruptcy, causing Vertu’s factories in the UK to stop the operations, ending 19 turbulent years of the most “luxury” phone company in the world

It can be said that Vertu’s failure can be summed up in two words: different.

– Born in 1998, Vertu is always known as the rich guy of the mobile world. Because of the philosophy “If users can spend tens of thousands of dollars to buy a piece of jewelry, why can’t they spend the same amount of money to buy a mobile phone?” however the products of this brand always cost several thousand, even tens of thousands of dollars. With that sky-high price, Vertu is extremely choosy about customers, in fact only successful businessmen or players who like to show off their assets “dare” to own this brand. As a result, when the smartphone was born, Vertu’s customer file has been less and more approaching zero. With a “luxury” customer position, the capital to produce a phone at a few thousand dollars, it is not easy for Vertu to turn the situation around overnight, and the bankrupcy things is not supprised.

Since birth, Vertu has always wanted to build a different brand, but those differences has gone against the development trend and created a sad ending for this brand. Throughout history, mobile phones have always been improved to be the most comfortable, the most adaptable, but Vertu still tries to keep itself … outdated, software and applications are the same 15 years ago. As the world developed production lines to reduce costs, Vertu remained faithful to costly manual assembly. As more and more phone products are suitable for all classes and all ages, Vertu still has a philosophy aimed at the upmarket customer in society. It can be said that that is the difference that this brand has worked so hard to build, but Vertu was wrong when stubbornly holding on to the value that is no longer suitable for the times. People often say “to be different or to die”, but for Vertu, they die because they are too different!

(source: Facebook)

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