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<< Nokia Targets Rich with Luxury Mobile Phone Range
By Paul de Bendern
HELSINKI (Reuters) - Nokia (news - web sites) said on Friday it planned to launch a new range of hand-crafted mobile telephones, some adorned with precious stones, as the world's largest mobile phone maker steps up efforts to tap the luxury goods market.
A new Nokia subsidiary, called Vertu, will start operations later this month to produce status symbol mobiles for the seriously rich.
``Details and additional information, products et cetera will remain confidential for now,'' said Nokia Mobile Phones spokesman Tapio Hedman...
NEW BRAND NAME
Nokia is expected to offer the devices under the Vertu brand. Vertu will have a separate management and be an independent subsidiary based in London, according to people close to the company.
Vertu will focus on wealthy people -- most probably in Asia -- willing to pay a premium for a device that is exclusive or limited, like the watch industry has done.
Industry experts say there is clearly a market for premium phones as a mobile phone is no longer a pure communications device but a also fashion statement for many.
``People are willing to pay a premium for this, just like they are for exclusive watches,'' Wood said.
But analysts said it was unclear if there was a big enough consumer base for these products, particularly as the technological shift was quite fast and a device costing $4,000 may be technologically outdated in a matter of months.
On Vertu's Web site www.vertu.com the company said it was ``combining craftsmanship, design, technology, service. A perfect object in both form and function.''
Vertu will start small with some 200 staff and has already contracted jewelers and craftsmen to make the devices, according to people close to the company. >>
<< Nokia Targets Rich with Luxury Mobile Phone Range
By Paul de Bendern
HELSINKI (Reuters) - Nokia (news - web sites) said on Friday it planned to launch a new range of hand-crafted mobile telephones, some adorned with precious stones, as the world's largest mobile phone maker steps up efforts to tap the luxury goods market.
A new Nokia subsidiary, called Vertu, will start operations later this month to produce status symbol mobiles for the seriously rich.
``Details and additional information, products et cetera will remain confidential for now,'' said Nokia Mobile Phones spokesman Tapio Hedman...
NEW BRAND NAME
Nokia is expected to offer the devices under the Vertu brand. Vertu will have a separate management and be an independent subsidiary based in London, according to people close to the company.
Vertu will focus on wealthy people -- most probably in Asia -- willing to pay a premium for a device that is exclusive or limited, like the watch industry has done.
Industry experts say there is clearly a market for premium phones as a mobile phone is no longer a pure communications device but a also fashion statement for many.
``People are willing to pay a premium for this, just like they are for exclusive watches,'' Wood said.
But analysts said it was unclear if there was a big enough consumer base for these products, particularly as the technological shift was quite fast and a device costing $4,000 may be technologically outdated in a matter of months.
On Vertu's Web site www.vertu.com the company said it was ``combining craftsmanship, design, technology, service. A perfect object in both form and function.''
Vertu will start small with some 200 staff and has already contracted jewelers and craftsmen to make the devices, according to people close to the company. >>
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