Nokia Vertu handset

Nokia is reportedly set to sell its luxury Vertu brand this week to a private equity firm named EQT for $249 million. We first heard in April that Nokia was interested in selling Vertu and was looking for around $265 million at the time. Vertu, which has flagship stores in New York City and other major cities around the world, is best known for its exotic phones that often coated with expensive metals and gemstones or crystal. Private equity group Permira was reportedly first interested in Vertu, Reuters said, but has since decided not to make an offer.

[via Reuters]