Vertu To Source Technology From TCL In $40 Mn Deal

Vertu, has signed an agreement with TCL Communication to bring latest smartphone technologies in its super luxury phones. This is the first agreement signed by luxury phone brand since the company was purchased by entrepreneur Hakan Uzan in mid-March of 2017.

Agreement is worth $40 million and it will enable the luxury phone maker to use technology from TCL Communication for 30,000 handcrafted phones, to be produced at the Vertu facility in Church Crookham, Hampshire.

Speaking from the new corporate offices of Vertu AK France in Paris, Hakan said, “We are delighted to have signed this agreement with TCL Communication. It is the first of many, considerable investments we are making into the business. TCL Communication is a valued partner of Vertu and we hope that this will be the start of a prosperous new chapter in our relationship.”

While Vertu, which was earlier part of Nokia, has been known for super expensive luxury phones, not much was included in the phones in the technology side. This new partnership will ensure that the phones get latest in technology too.

Hakan further added “Customers will have access to limited, special edition Constellation X products as soon as mid-July, with full ramp up by early September. The new generation of Vertu Concierge Services will start being introduced in mid-July in limited markets.”

Alain Lejeune, Senior Vice President of TCL Communication said. “Combining our advanced smart phone technology with Vertu’s superb craftsmanship and commitment to superior design and performance, it will help create an outstanding experience for its discerning customers.”

The parent company has announced plans to launch new services and products in September, alongside announcing several exclusive luxury partnerships with leading global brands. The new products will be sold in the key luxury markets of France, UK, China, Asia, Russia, Western Europe and the Middle East.

The new Vertu phones have an entry selling price of £7,500 and the company has more than 225,000 registered customers.

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