Luxury Phone-maker Vertu Collapses

A British-based company that made smartphones costing thousands of pounds will be liquidated after a plan to save it failed. From a report: Vertu was known for its high-end, jewel-encrusted handsets, but recently faced financial difficulties. The company's liquidation will result in the loss of nearly 200 jobs. One technology analyst said Vertu would have faced competition from companies offering to customise other smartphones with precious materials. Vertu phones carry hefty price tags -- its Signature range starts at 11,100 pound ($14,350) and one model featuring 18-carat red gold costs 39,100 pound ($50,600). When contacted by the BBC, an external spokesman for the firm said: "Well it's gone into liquidation and I'm not being paid by them any more."