Luxury smartphone maker Vertu has signed a $40 million deal with TCL Communication, and the company will be making 30,000 handcrafted smartphones for Vertu.
Vertu was purchased by entrepreneur Hakan Uzan back in March, and here is what he had to say about the new deal.
Speaking from the new corporate offices of Vertu AK France in Paris, Hakan commented, “We are delighted to have signed this agreement with TCL Communication. It is the first of many, considerable investments we are making into the business. TCL Communication is a valued partner of Vertu and we hope that this will be the start of a prosperous new chapter in our relationship.”
Exclusive Constellation X Products
“Customers will have access to limited, special edition Constellation X products as soon as mid-July, with full ramp up by early September. The new generation of Vertu Concierge Services will start being introduced in mid-July in limited markets, with a new wide-ranging portfolio of Vertu Life Style Products becoming available in Vertu Boutiques in early September,” Hakan added.
The Constellation X series is expected to feature some of the most luxurious materials and cutting-edge technology. These smartphones are not just communication devices but also status symbols, crafted with precision and attention to detail. The collaboration with TCL Communication aims to blend Vertu’s luxury craftsmanship with TCL’s technological expertise, ensuring that each handset is a masterpiece of both design and functionality.
Vertu’s Market Position and Future Prospects
Vertu has sold more than 500,000 smartphones worldwide, and prices for the handsets start at around £7,500. This high price point is justified by the use of premium materials such as sapphire crystal screens, titanium frames, and leather finishes. Each phone is handcrafted, making every unit unique. The brand has built a reputation for offering not just a phone but an experience, complete with exclusive services like the Vertu Concierge, which provides 24/7 assistance for a range of lifestyle needs.
The new deal with TCL Communication is expected to further solidify Vertu’s position in the luxury smartphone market. By leveraging TCL’s technological capabilities, Vertu aims to introduce innovative features that will set its products apart from competitors. This includes advancements in display technology, battery life, and software enhancements that cater specifically to the needs of high-end consumers.
Moreover, the introduction of the new Vertu Life Style Products in early September is anticipated to expand the brand’s portfolio beyond smartphones. These products are expected to include a range of luxury accessories and services that complement the Vertu lifestyle. From bespoke leather cases to exclusive travel experiences, Vertu aims to offer a holistic luxury experience to its customers.
The $40 million deal with TCL Communication marks a significant milestone for Vertu. It not only underscores the brand’s commitment to innovation and quality but also sets the stage for future growth and expansion. With the upcoming launch of the Constellation X series and the new Vertu Life Style Products, Vertu is poised to redefine the luxury smartphone market.
Source Vertu
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