Luxury smartphone manufacturer Vertu is reportedly shutting down its UK manufacturing arm and is facing liquidation after plans to save the exclusive phone brand failed, leaving the company with a reported £128 million ($AU214 million) accounting deficit.
The Telegraph reports nearly 200 jobs will be lost as a result of the shutdown of the UK manufacturing arm, with owner Murat Hakan Uzan initially seeking to buy the company out of administration for £1.9 million ($AU3.18 million).
Vertu was initially founded in 1998 and has has had several owners in its lifetime, being originally owned by phone manufacturer Nokia. The company creates high-value handcrafted mobile phones, often encrusted with diamonds, made with preciou…
Read the full article at: http://www.smartcompany.com.au/industries/manufacturing/diamond-encrusted-16000-smartphone-manufacturer-vertu-faces-liquidation-shuttering-uk-manufacturing-arm/