Rich Asians snapping up Vertu phones — MobileMonday Global: Industry News

^{Hong Kong Chinese, Indonesians and Singaporeans are most keen} Rich Asians snapping up Vertu phones

19 Sep 2004 at 16:38 GMT Timo Poropudas

Despite of because their hefty price and relatively limited functions, sleek handcrafted phones manufactured by Vertu, an independent unit of wireless communications giant Nokia, are becoming sought-after status symbols in Asia.

Millionaires, celebrities, and high-flying professionals are flashing Vertus made of precious metals, ceramic and leather at one another in Asia's corporate boardrooms and country clubs, reports AFP news agency.

Vertu, which started selling its phones in Asia two years ago, refuses to disclose sales figures. A senior executive claimed sales are doubling every six months, AFP reports.

The most avid buyers in Asia are mainland and Hong Kong Chinese, Indonesians and Singaporeans.

"It's seen as an achievement icon," Eric Lee, Vertu's sales director for the Southeast Asian and Pacific region, told AFP. "Deep down inside they are not looking for gadgets and cameras, they are buying into an attitude."

"This is very hard to describe," he said. "They are actually seduced by the Vertu element of mystique."

Based in London, Vertu has offices in Paris, New York, Singapore and Hong Kong. It has also dealers in 20 countries and territories, including Kuwait, Macau and the United Arab Emirates, all places where conspicuous spending is not seen as a social crime.

The flagship Vertu model is a platinum-cased Signature model, costing 32,000 dollars. The yellow gold version costs 18,500 dollars. The cheapest Vertu is a leather-clad Ascent model, worth a mere 4,700 dollars.

Wealthy Thais and Russians visiting Singapore have also bought Vertus and there have been a few buyers from Vietnam, where the per-capita income is 400 dollars a year.