Nokia plans to sell its luxury handset subsidiary, Vertu, as the Finnish handset manufacturer overhauls its business to keep pace with competition, say news reports.
It is believed that Nokia has appointed Goldman Sachs to oversee the sale process.
The value of the company is yet to be pegged. However, annual revenue is estimated to be between 200 million euros and 300 million euros.
Further, private equity groups have reportedly expressed interest in Vertu.
