Nokia has completed the divestment of Vertu, its luxury handset division, to EQT VI, say news reports. As part of the transaction, approximately 1,000 employees have transferred to Vertu. Nokia retains a 10 per cent minority shareholding in Vertu.
Prior to this, the handset maker said that this was the next logical step to enable the brand to focus on increased opportunities for growth in the luxury category.
Vertu is headquartered in Church Crookham, UK and employs approximately 1,000 people worldwide.
