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Vertu’s demise shows why luxury smartphones are an awful idea


Vertu, maker of smartphones that cost more than some cars, is now all but dead. The company is shutting down operations, taking 200 jobs with it. Despite multiple changes of ownership and various attempts to drive up sales Vertu has been in crisis mode for quite some time, taking drastic measures like dropping the prices of some of its phones from around $14,000 to ‘just’ $5,000 dollars. Vertu’s owner, a controversial Turkish exile, will maintain brand assets and says he hopes to revive Vertu eventually, but the odds are looking slim. If you ask me, it’s amazing the company even…

This story continues at The Next Web
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