Nokia has confirmed to sell its premium phone brand, Vertu to EQT VI, which is a part of a private equity group in Northern Europe. While the details of the transaction are kept confidential, EQT has hinted to develop Vertu as a “standalone company” and plans to expand the luxury phone market with investments in retail, marketing and product development.
Moreover, Nokia also announced to acquire imaging technologies and intellectual properties from Scalado AB.
The partnership seems to be an extension of a decade-old partnership with Scalado and the new transaction will enable Nokia to improve the camera functionality in upcoming devices.
Nice decision, Nokia should be the first always.