Turkish businessman in exile buys Vertu for $61 million

Vertu once again has a new owner - a Turkish businessman Hakan Uzan, who is currently in exile.

Published Mon, Mar 13 2017 2:55 PM CDT   |   Updated Tue, Nov 3 2020 11:56 AM CST

Vertu, a manufacturer, and retailer of luxury phones was established back in 1998 by Nokia. However, the company has changed hands a couple of times by now.

Turkish businessman in exile buys Vertu for $61 million | TweakTown.com

First, the company was sold to EQT VI in 2012, and their most recent owner, a Hong Kong-based holding company Godin Holdings, bought the company in 2015.

Now, Vertu once again has a new owner - a Turkish businessman Hakan Uzan, who is currently in exile. Uzan reportedly bought Vertu for $61 million.

Interestingly, Nokia sued Uzan after him, and his family borrowed money from the Finish company to help set up a mobile operator in Turkey. The Uzan family used to own a bank, and many other companies, but faced with many allegations of fraud, their empire started to crash, and the family received political asylum in France.

Via a spokesman, Hakan Uzan told The Daily Telegraph:

Vertu is a powerful brand with an acknowledged market niche. I look forward to working with the team and providing the investment to enable Vertu to realize its full potential.

The company has struggled in the past years in the market flooded with smartphones. Their luxury phones come with a spicy price tag, with an average price of around $6,000 per sold phone.

NEWS SOURCE:telegraph.co.uk

Lana has a passion for technology and science. She spends her time looking for the latest and most interesting technology and science news. Her passion is in gadgets, wearables, and other cool and interesting applications of technology or science. She also spends her free time gaming in MMOs like World of Warcraft. She has prior experience covering technology for publications and breaking news. If she’s not doing either, you might just find her exploring the metaverse in VR. Lana wants to expand TweakTown’s coverage of mobile, wearables and gadgets while also bringing her experience with science and general tech to TweakTown. Her area of coverage is around science, technology, smartphones, wearables, and general neat gadgets. She hopes to one day be able to drive around in her self-driving car while she schedules an appointment for a SpaceX trip to the moon on her smartwatch.

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