Luxury phone maker Vertu sold to Chinese investors

The Chinese smartphone family, long known by its average-quality and inexpensive devices, is all set to welcome a new member. Only, the new entrant is a cut above the rest as its major customers are nattily dressed businesspeople who sport customized gadgets handcrafted with sapphire crystal screens and high-end leather.

The United Kingdom-based luxury smartphone vendor Vertu Co Ltd was sold by its Swedish owner EQT Holdings AB to a group of unknown investors in Hong Kong.

EQT said the ownership change was completed in mid-October. Details of the transaction, including the amount, were not disclosed.