Skip to main content

Luxury phone maker Vertu has a new owner, CEO steps down

vertu acquired godin holdings ceo steps down news max pogliani
Image used with permission by copyright holder
Luxury smartphone brand Vertu has been sold, and its CEO Massimiliano Pogliani has decided to step down from his position. Vertu was sold to Swedish private equity firm EQT by Nokia back in 2012. Now, EQT has sold Vertu to Godin Holdings, a company based in Hong Kong about which little is known, along with an unnamed selection of private investors, according to a report by the Financial Times. No financial details are being given at this time, and the news has yet to be shared on Vertu’s website or through its social networking channels.

Updated on 11-04-2015 by Andy Boxall: Added in a quote from CEO Massimiliano Pogliani, and some company performance data

Initially a side project under Nokia’s ownership, Vertu transformed when it was sold to EQT. The company adopted Android — its early feature phones ran Nokia’s feature phone software — and moved away from the over-the-top designs on phones with limited functionality, to create more attractive, high-spec devices that managed to capitalize on a growing interest in luxury tech products.

Vertu New Signature Touch
Andy Boxall/Digital Trends
Andy Boxall/Digital Trends

Max Pogliani joined the company as chief marketing officer during this transition, having come from Nestle’s Nespresso premium coffee brand, and became CEO in 2013. In a statement given to Digital Trends, he’s quoted as saying:

“I have enjoyed my time with Vertu immensely and am proud of what has been achieved over the past three years. Now, with the successful transition to a new investment partner complete, it is an appropriate time to pass on the baton of leadership to a new team. I look forward to reading of Vertu’s continued success over the coming years.”

At the time of writing, a new CEO hasn’t been announced. The company will continue to operate from its headquarters in the UK, where 450 people are employed, and the business isn’t expected to alter. The company says it has sold 450,000 devices globally.

The changes come just weeks after Vertu announced its latest smartphone, the New Signature Touch. An evolution of the original Signature Touch, the phone features a distinctive gull-wing door-style design on the rear, covering the SIM and MicroSD card trays. Like all other Vertu phones, it’s handmade using materials including titanium, sapphire, and leather. The signature of the person responsible for building the device is hidden beneath one of these doors. On average, you’ll have to spend around £5,000/$7,000 to own a Vertu phone.

Article originally published on 11-03-2015

Editors' Recommendations

Andy Boxall
Senior Mobile Writer
Andy is a Senior Writer at Digital Trends, where he concentrates on mobile technology, a subject he has written about for…
Don’t buy this new Motorola phone — get this other one instead
Renders of the Moto G 5G (2024) and Moto G Power 5G (2024).

the Moto G 5G (left) and Moto G Power 5G Digital Trends

Budget phones can slip under the radar when shiny, powerful flagships launch. But if you're in the market for a smartphone that gets the job done and won't blow a four-figure hole in your bank balance, then a great budget smartphone is the way to go.

Read more
Get 32% off the cellular model of the iPad Pro 12.9 this weekend
The iPad Pro on a desk next to a stylus and AirPods.

If you've been thinking about getting the iPad Pro with cellular connectivity but you've been hoping to buy the tablet from iPad deals for a discount, this may be what you've been waiting for -- a 32% discount from Amazon's Woot on the 12.9-inch, Wi-Fi + Cellular model of the 2021 Apple iPad Pro with 128GB of storage. From $1,199, it's down to just $810, which is a steal price for this device with savings of $389. However, while there are still several days left on this offer, it's highly recommended that you proceed with the purchase immediately because there's a chance that stocks don't last that long.

Why you should buy the 2021 Apple iPad Pro 12.9
It's not the latest version of Apple's top-of-the-line tablet -- the honor goes to the 2022 Apple iPad Pro -- but the 2021 Apple iPad Pro is still a pretty powerful device by today's standards. That's because it's equipped with Apple's M1 chip, which promises fantastic speed and excellent graphics when you're working on your multimedia projects, multitasking between several apps, or playing console-level games. With its 12.9-inch Liquid Retina XDR touchscreen, you'll enjoy high-brightness and high-contrast content, and its mini-LED display provides deeper black levels and more vibrant colors.

Read more
Samsung Galaxy A55 vs. A54: all the big changes, explained
Renders of the Samsung Galaxy A55 next to the Galaxy A54.

Galaxy A55 (left) and Galaxy A54 Digital Trends

Samsung has been on a roll with new phone releases in 2024. At the end of January, Samsung released the flagship Galaxy S24 lineup. It's fantastic, but not everyone can afford the latest and greatest flagship. Thankfully, Samsung also makes budget-friendly alternatives, and that’s the appeal of the new Galaxy A55.

Read more