We have been hearing for a while that Nokia is looking to sell off its luxury phone company, Vertu, and now it looks like it has finally happened. The Finnish company has announced that Vertu has been sold to private equity firm EQT, although they did mention that they will be keeping a 10% in the company. On top of that, the company will be laying off an additional 10,000 workers between now and the end of 2013 and will be reshuffling the number of executives. This movie is expected to cost €1 billion which is on top of the €900 million tied to its previous restructuring efforts.
Ubergizmo, Nokia sells of Vertu, reshuffles executives and announces plans to lay off an additional 10,000 workers
