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Vertu

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Intro
In August 2006, Vertu, a maker of premium mobile phones and a subsidiary of Nokia, the world's largest mobile phone maker, announced that it was unable to meet the demand for its luxury phones and would increase its production capacity in the near future.

The mobile phones, or personal communication instruments, as they were referred to in the company's communications, were priced between US$ 4,900 and US$ 50,000 (as of 2006). The phones were handcrafted with high quality components including precious stones. The more expensive models were made of platinum
Vertu had invested considerable money as well as time in conceptualizing and creating its range of luxury phones. These extremely expensive phones were primarily targeted at young and successful businessmen. Vertu realized early that mobile phones, far from being just a communication device, would also come to reflect the personality of their owners. While the Vertu phones evoked a good response, some analysts doubted whether the interest would be sustained.
As the product proved successful, the number of imitators was expected to grow quickly. And sure enough, companies like Mobiado3 and mainstream players like Motorola4, Samsung5, and LG6 launched high-end mobile models in the mid-2000s.

Even as Vertu phones won praise for their design and build, they were criticized for being technological laggards. However, company officials did not see this as a drawback, explaining that a typical Vertu customer did not place as much emphasis on cutting-edge features as he did on design and high value components.
Background Note
Vertu, headquartered in the UK, was established by Nokia as a subsidiary in 2002. Although the idea to create exclusive luxury phones was first conceived by Frank Nuova (Nuova), the chief designer of Nokia, in 1995, it was several years before it took shape.

"In 1995, Frank Nuovo,

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