Vertu brand is considered to be one of the most expensive mobile phone handsets in the market. Vertu is a subsidery brand of Nokia which is a finnish company. The handsets of Vertu are usually either gold platted or both gold platted with original diamonds on it. Expensive stones are used in making of the sets including, Diamonds, Rubies, Sapphire, etc. and also leather is used for their casings. All the handsets are hand-made. The most expensive handset of Vertu was called Vertu Signature Cobra which costed US$310,000 and the regular handset is called Signature Diamond which costs around US$88,000.
Nokia has today announced that they will now leave the market of Japan and will not sell or market any nokia product in Japan. Nokia claimed that the sales in Japanese market of the past years is not what they were expecting. To give a little clearer picture of what they meant by withdrawing from Japan means that only their sale and marketing of new nokia products will not be made in Japan anymore. Whereas the Nokia’s luxury mobile phone brand Vertu (Vertu brand is counted among the most expensive mobile phone sets) will still be sold in the Japanese mobile market. On the other hand the research and development process will also remain in Japan.
Timo Ihamuotila, the executive vice president of Nokia made the following statement: “In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific product variants is no longer sustainable.”