Nokia Selling Luxury Vertu Brand for Unsurprisingly Sky-High Asking Price

By Gary Cutlack on at

Nokia's odd Vertu brand, which makes posh-looking and very expensive telephones (and pimped USB cables) for rich people who haven't yet joined the iPhone club, is up for sale.

According to news reports breaking this weekend, Nokia is looking to offload the supposed luxury brand for around €200m, or £160m, which would go some way toward making up the enormous £760m loss it reported for the first quarter of 2012.

According to the Financial Times, talks are at an advanced stage, with private equity firm Permira leading the bidding. [Reuters]