Private investor Permira could bag uber-expensive handset brand.
The FT says Nokia is urgently looking to dispose of 'non-core asset' Vertu by selling to Permira for €200 million.
A source close to the deal claims the Vertu cost will be a result of its high-brow brand profile, rather than the technology that powers the devices.
Independently-managed Vertu is a bit of an anomaly in the era of the high-end touchscreen smartphones. Its appeal is based on sheer bling rather than any technical superiority.
Still, there does appear to be some demand for it. Devices can sell for over £200,000, while annual revenues are thought to be between €200-300 million.
The news comes following Nokia's €1.4bn Q1 loss, which clearly necessitates a radical clear-out from the giant phone maker.