Company for Luxury Smartphones Bankrupted
The luxury smartphone maker Vertu, based in the UK, is in liquidation after its rescue plan failed, BBC reported on Thursday.
Closing the company will result in the loss of 200 jobs. The reason for the bankruptcy is that Vertu has failed to cope with the competition of other companies who have offered an individual design of smartphones at much lower prices. Vertu's products started at £ 11,000 and reached £ 39,100 if the smartphone was made of 18-carat gold.
In March of this year, the Chinese owner sold the company to Hakan Uzan, a Turkish businessman living in Paris. He has planned to invest 1.9 million pounds in the company's rescue, but after the purchase he found that he had accumulated losses of 128 million.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » New Protest in North Macedonia, familiar Chants against Bulgaria
- » EU: Trust in Institutions continues to Fall despite declining Unemployment and phasing out of Pandemic Restrictions
- » The EC approved Bulgaria to Receive over BGN 32 Billion (EUR 16.4) for 7 years
- » Von der Leyen: Europe should prepare to Stop Gas Supplies from Russia
- » Erdogan: We are Close to a Deal for the Transport of Grain through the Black Sea
- » Boris Johnson is Fighting for his Political Survival