Vertu signature Cobra Limited edition launches a $360,000 priced feature phone

This feature phone comes with 2-inch QVGA display, 2GB of RAM, 16GB of internal storage, and a 1,200 mAh battery.   But the specs aren’t what’s going to sell this phone.   The Signature Cobra has 439 rubies shaped in the form a cobra on the front of the phone. The cobra’s eyes are made out of emerald. The phone has been designed by French jewelry house Boucheron.   To secure a premium service, the phone will be delivered to you via helicopter.   Only eight units of this phone will be made, and one of them can be yours for just $360,000! What a deal!

The Vertu Signature Precious will make you forget about your high-end

The Vertu Signature Precious will make you forget about your high-end
Let us guess C there’s nothing in the world that can make you give up your seemingly ubiquitous Android or iOS smartphone, right? Not even a sexy chick wearing dioptric glasses and nose piercing, right? Well, think again, because your smartphone doesn’t have the one thing that the new Vertu Signature Precious has, and that, our friend, is ultra-expensive hyper-luxurious style! Come to think about it, why would you need to play extremely-addictive games or scan food barcodes with your phone? After all, phones are for calling and texting, no?
 
These are the kinds of thoughts that crossed our minds when we saw (on images, sadly) the Vertu Signature Precious. The hand-crafted handset comes in a bunch of material and color combinations to suit even the most pretentious customer. Generally, models come in yellow, red, or white gold, or, if you don’t like gold, in platinum. The gold and platinum elements are combined with other luxurious materials such as leather, ceramic and diamonds, as well as sapphire crystal for the screen, you know, the usual stuff. Depending on the specific model, the device can weigh from 7.5oz (214g) to 8.4oz (238g).
 
Do not expect to find a gigahertz processor packed with this one. Specs-wise, the phone is pretty stripped-off, with the highlights being high-resolution? OLED screen, Bluetooth, Wi-Fi and microUSB port, as well as dual-band 3G. Hooray for dual-band 3G!
 
There are a number of other special treats coming with Vertu’s latest temptation. These include exclusive ringtones, which are actually pieces by composer Dario Marianelli, performed by the London Symphony Orchestra, as well as some other custom services by the company.
 
For good or bad, the price is not mentioned anywhere, so one will have to ask, if interested. And if you’re still holding onto that iPhone or Android phone of yours, check out the video below and think again.
 
source: Vertu via Engadget

Vertu liquidators set to repay staff and plug £500k pension gap

Liquidators of Vertu, the manufacturer of luxury mobiles, have recovered enough funds to pay the majority of employees’ preferential creditor claims – and replenish a large part of a £500,000 hole in their pensions.

Vertu’s jewel and gold-encrusted phones retailed at up to £145,000

Adam Harris and Kevin Goldfarb of the insolvency practice Griffins were last months appointed joint liquidators of Vertu, which sold luxury phones retailing at up to £145,000 each to the super-rich.

After a period in which Vertu’s sales plunged and debts spiraled, talks began for a pre-pack administration to save the business. After the negotiations broke down, Harris and Goldfarb were appointed on July 12.

Since their appointment the liquidators have been looking to maximise the value of Vertu’s assets to recover debts for creditors.

Among the creditors owed the biggest amounts were the 178 staff, who were left with £460,000 in unpaid wages at the time Vertu entered liquidation. Vertu also had a £519,000 deficit in its pension fund contributions and the company collapsed with total debts of around £40m.

The liquidators however raised more than £1.5m in cash during August by selling the company’s assets through an auction with Kent-based GJ Wisdom & Co.

Harris, a partner at Griffins, said: “The successful auction of the company’s assets raised in excess of £1.5m which not only ensures that a significant proportion of the former employees’ preferential claims can be satisfied but also reimburses the National Insurance Fund to the extent that it has covered these liabilities.”

The National Insurance Fund pays out to staff who claim for unpaid wages and other related liabilities when their employer enters insolvency and in the case of Vertu, is set to be reimbursed by the liquidators.

Now the liquidators will look into the conduct of the former owners and directors.

Harris added: “We shall now continue our investigation into the reasons behind the demise of the company.”

Since taking over the company’s affairs, the liquidators have discovered that staff pension contributions were deducted from salaries but not paid over to the pension providers since March this year.

Before liquidation, the company was under the control of Turkish tycoon Hakan Murat Uzan.

Uzan acquired the company from Hong Kong-based Godin Holdings, which had previously acquired Vertu in 2015, from the private equity group EQT.

Vertu’s range of high-end handsets was made with alligator skin, sapphire crystal screens and ruby touch keys. Prices for the mobiles ranged from £11,000 to its premium model; the Signature Clous de Paris Red Gold, which featured 18 karats red gold along with black sapphire keys, and a £39,100 price tag.

The most expensive Vertu phone was sold for around £300,000 to a Chinese buyer.