Vertu extends production deal with TCL Communication

Luxury phones maker Vertu announced a new deal with TCL Communication Technology to ramp up its production capacity. This is part of a restructuring of Vertu following its recent takeover by Turkish businessman Hakan Uzan. Vertu said the deal with TCL, worth USD 40 million, will enable Vertu to use "advanced and innovative technology" from TCL Communication for 30,000 handcrafted Vertu phones, to be produced at the Vertu facility in Hampshire, England. 

Hakan said limited-edition Constellation X phones will start shipping to customers already in mid-July, with full ramp up by early September. In addition, a new generation of Vertu Concierge Services will start being introduced in mid-July in limited markets, and a new portfolio of Vertu Life Style Products will be available in Vertu Boutiques in early September. 

As part of the restructuring, Vertu has moved its corporate offices to Paris, while maintaining production in England. The new products will target the "key luxury markets" of France, UK, China, Russia, the Middle East and other parts of Asia and Western Europe, the company said.

Vertu has sold more than 500,000 devices worldwide to date and said it counts over 225,000 registered users for its services. The new products will sell from GBP 7,500.