Nokia has been in talks for selling off Vertu since quite sometime now. The Finnish brand announced the sell out in a statement issued today. The company formally announced the acquisition of the luxury mobile phone manufacturer by EQT VI, which is the part of a European private equity group. Nokia continue to hold 10% of the company's stocks though. The deal, although finalized, will not come into force until the second half of the year, which could take a few days or even months from now. This however doesn't mean the end of Vertu, with the company still pretty eager to keep going.

The President of Vertu, Perry Oosting said in a statement, "Since Vertu began in 1998, our business has grown every year, due to the efforts of our talented workforce and the unique products and services we offer to our customers. We believe that EQT VI will position Vertu to continue to grow and lead in our marketplace".

We saw a leaked image of an alleged Vertu Windows Phone 8 smartphone earlier, with its authenticity still in question. With the acquisition now in place, we see very little chances of that happening. Let’s wait until 20th June for more, when Microsoft will reveal its new WP8 OS.

TAGS: Mobile Phones, Nokia, Chethan