Chances are that common person, like you and I, have never heard about Vertu, let alone hold one. It's not because we are not aware of what's happening in the world but it's because we are not mad enough and don't have that exorbitant amount of money to spend on phones. But now we are getting to hear about Vertu quite a lot because apparently, it is closing down.
What was Vertu? Well, before you start Googling let me give you the answer. Vertu was a firm famous for making high-end and by high-end, I don't mean cutting edge technology or advanced AR but jewel-encrusted handsets. Vertu phones have some diamonds thrown in the back, with crocodile skin wrapped around the 22 carat gold body and much more. Wait? Did people buy that? Yes, they did. It was something that people, who like opulence, loved showing around. One of its signature range costed £11,100 and if you would have wanted one that has 18-carat "red" gold, whatever that is supposed to mean, it would have costed you £39,100.
However, looks like all those gold plated, diamond-encrusted phones will no longer be made. The firm is currently going through a liquidation process after its plans to revive the company fell flat on the face. Apparently, the firm was sold to Hakan Uzan, a Turkish exile residing in Paris by its former Chinese owner. Uzan had plans to shell out £1.9 million to bring the firm back from the dead but ended up having £128 million short of it. So now the firm is being liquidated. Mr Uzan will, however, retain the Vertu brand, technology and licenses, just in case he manages to revive it once again.
So, what went wrong? Well, the entire premise of the firm's existence. Very few people wanted bling on their phones. Although these phones were handmade and were a collector's item of sorts but, at the end of the day, it's still a phone. You buy one Vertu and if next year, you need an upgrade then what? So, it's better not to buy one that is so pricey.