Luxury mobile producer Vertu enters Vietnam
Vertu, a luxury brand that manufactures diamond-encrusted and precious metal telephones, which was purchased by the Uzan family living in France, recently opened its first store in Ho Chi Minh City, Vietnam. Founded in May as Hanoi-based Vertu Vietnam, the company will continue to grow in the coming months. Vertu will open a store in Hanoi, which is synonymous with the Vietnam War, after the October opening in Ho Chi Minh City. The began selling its products for the first time with a local company, FPT Telecom Products Distribution, in 2006. At the time, the company had three stores in three cities in Vietnam. However, after the economic crisis, the stores were closed and Vertu left Vietnam. So this will be Vertu’s second attempt in the country.
According to Kerim Ulker of daily DUNYA, Vertu’s price in Vietnam is also set, mobile phones will vary in price from $4,500 to $43,000.
Vertu is the first brand that comes to mind when it comes to luxury in mobile phones. Founded in 1998 by the Finnish phone manufacturer Nokia, it was sold to the EQT investment fund for £175 million at the end of the 2000s. EQT handed the company over to theHong Kong-based Swedish company, Godin Holding, in 2015. It changed hands for the last time in 2017 when it was taken over by Baferon Ltd, the Uzan family’s company in Cyprus, for £50 million.
In its first move, the Uzan family attempted to revive the ailing company in China, introducing the latest model, the Aster P2018, at an exclusive event in Shanghai on October 17 last year. The reason why Uzan made the first introduction to communist China was that number of wealthy Chinese is increasing in the country rapidly. But for some reason, Vertu made its second important step in Vietnam, which also happens to be ruled by a Communist Party.