The high-end smartphone makers Vertu have collapse according to the latest updates.
The company was known for its jewel-encrusted handsets but unfortunately, Vertu faces crucial financial crises causing shut down their company.
The liquidation of Vertu will not make a loss for company owner but also of those 200 jobs who’ll lose their jobs.
Technology analysts have come to their views saying that Vertu may have faced strict competitors including other smartphone companies who are offering customized phones with luxary items.
Grand smartphone produced by the company ranged high price tags starting from £11,100. Moreover, Vertu’s onde smartphone model was supposedly featuring 18-carat red gold that costs for about £39,100.
According to BBC when they met an external spokesman for Vertu their words were; “Well it’s gone into liquidation and I’m not being paid by them anymore.”
It is really shocking to hear about the company whose items are nearly sold in thousands of pounds and one of its employees come up and say they can’t even pay his salary.
Vertu who was known for making phones
On the other hand, the company was sold by its former Chinese owner to Hakan Uzan who is Turkish exile in Paris in the month of March.
According to The Daily Telegraph reports the owner o Vertu had planned to bring the company out of administration by paying to £1.9m but unfortunately they had plenty of account deficits that were £128m.
Now Vertu will be retained by Mr. Uzan including the technology and licenses.
Another technology analyst from IHS Technology named Ian Fogg shared his views saying:
“It is very unusual, they hand make the phone at incredibly low volumes and they were incredibly high-priced.”
There was something brought to light by Ian Fog that Vertu’s recent phone had been using synthetic sapphire for making screens for their smartphones. The same material was also used by Apple for iPhones but later this face some production issues and was abandoned.
While in a conversation with BBC Mr. Ian Fogg shared more of his views over the financial collapse of the company he said;
“It is a difficult material to work with, One practical benefit is that the smartphone screen is made incredibly difficult to break.”
This technology analyst also pinpointed that other companies giving services like Vertu for customizing smartphone with luxury items also offer precious stones or metals offered an alternative.
He simply meant that high-end customers can firstly choose their wished handset and then later add their desired “bling”.
Moreover, the company was once founded by Nokia back in 1998 but later it was sold in 2102. And in the following year, it got sold they switched their operating system of it’s device from Nokia’s Symbian to Google’s Android.