Let’s face it. The luxury market is going through a shakeup of epic proportions. The golden rule holds true as wealthy millennials decide with their pocket book what is and isn’t luxury. The smartphone industry is the latest category to go through a shakeup as early adopters and affluent gadget people refer to Apple and Samsung as luxury brands and buy up their top end models. Unfortunately for Vertu, a company that made exquisitely crafted smartphones, slower operating systems wrapped in the finest alligator skin case just didn’t cut it and the company recently folded after only being acquired several years ago.
We talked about luxury smartphones in a May, 2017 article titled Luxury smartphone technology: Some bling is only skin deep and we question the true differentiation between a luxury smartphone versus mass market higher end devices. Vertu may only be the beginning of consolidation in this industry and market watchers will be eyeing Gresso, the next biggest luxury phone-maker. Affluent consumers demand the latest technology in mobile devices and as both iPhone and Galaxy reach their 8th editions, luxury smartphone makers just can’t keep up. Read more about Vertu’s collapse below:
Luxury smartphone maker Vertu collapses
The firm’s liquidation will result in the loss of hundreds of jobs
Vertu is going to liquidate after last-minute attempts to save the struggling luxury phone maker failed.
The British handset designer, which produce...