Luxury phone maker Vertu has called it quits and sent the company into liquidation. This will result in some 200 jobs being lost, although current owner Hakan Uzan is said to be retaining all intellectual property.
Vertu served the luxury market by selling hand made smartphones. These would be constructed using ridiculously expensive and exclusive materials like ostrich leather and diamonds. It was also said to be making some devices with Sapphire glass; a technology rejected by Apple for manufacturing problems.
All this translated into devices that would cost upwards of $30,000 (about RM128,000); although includes a concierge service and direct contact with the person assembling the smartphone.
Despite the price tag, Vertu devices were often underpowered and using technology from the last generation. Which could easily explain why it failed to keep up with less expensive devices.
A report from the the Financial Times indicates that not all is lost for Vertu. Uzan is said to have plans to resurrect the brand at some time in the future. Nothing is known about this plan, but the luxury brand has developed a habit of coming back to life since being sold multiple times.