At Least One Part of Nokia is Still Making Money

By Sam Gibbs on at

While Nokia may be axing a further 3,500 jobs from its main handset division, one part of Nokia, Vertu, is on the up and up.

The diamond encrusted, gold and precious metal phones are apparently a hot item with a surging demand from the Persian Gulf, Russian and Chinese markets providing "high double-digit sales growth". With 840 employees, the UK-based Vertu has seen an impressive 50% growth in numbers since 2009.

It's crazy to think that a handset that does less than a good smartphone and costs in excess of £9,000 could really be a 'hot seller' in this current climate. Too many people with money to burn, eh? At least they're funding UK jobs, as each Vertu is built in Church Crookham, Hampshire. [Bloomberg]