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Nokia to sell its luxury Vertu arm?

Nokia’s ultra-luxurious subsidiary Vertu – famous for making Symbian phones from precious metals and diamonds – could be spun off, according to a report from the Financial Times.

Vertu phones are known for their high quality craftsmanship as much as their price tags. Each one is hand-assembled with models like the old Vertu Constellation Ayxta fetching a £4500 price tag.

The latest release is the Constellation T, the first touchscreen phone from Vertu, that has an 8-megapixel camera, dual LED flash and is made from polished stainless steel.
The price? £3750. And you though the iPhone 4S was expensive.

Nokia hasn’t announced anything formally on the matter, but Goldmann Sachs is thought to be overseeing the deal, according to the FT’s source. Annual revenue of the Vertu arm is said to be between €200m and €300m (£170m and £256m), although no valuation has been announced yet.

Source: Financial Times (account required) via The Nokia Blog