Nokia In Advanced Talks To Sell Vertu For $265 Million

Posted on Apr 30 2012 - 5:09am by Editorial Staff

According to Financial Times report, the Finnish mobile giant Nokia is working in light to sell its cellphone subsidiary, Vertu. Nokia, which last week had its credit rating cut to “junk” status by ratings agency Standard & Poor’s, will raise about 200 million euros ($265.19 million) from a potential sale. Cited “people familiar with the talks” says Goldman Sachs advising to oversee the sale, but said the outcome was not yet certain. Vertu makes some of the most expensive cellphones in the world by hand, which can feature crystal displays and sapphire keys. Its cellphones can cost more than 200,000 pounds due to the precious metal components.

(Image Source: Nokia logo, Featured Image)

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