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Nokia's Vertu expanding rapidly

Vertu, the luxury brand of mobile maker Nokia, is growing fast as a result of geographic expansion.

india Updated: May 30, 2006 16:02 IST

Vertu, the luxury brand of mobile maker Nokia, is growing fast as a result partly of geographic expansion and plans to launch in the Nordic countries and Japan, Vertu President Alberto Torres said in comments published on Monday.

"We are now growing in three digit numbers, mainly thanks to geographical expansion and launching new handsets," Finnish business daily Kauppalehti quoted Torres as saying in an interview.

"We sell tens of thousands of phones annually, and our goal is to reach annual sales of hundreds of thousands of phones," he said, but added that high volumes specifically were not a target for Vertu, which is based in Britain.

"It may take even more than 10 years to reach the threshold of selling 1 million handsets."

Nokia does not give separate sales or profit figures in its accounts for Vertu, whose handsets include models studded with diamonds that cost thousands of dollars.

Vertu is to launch its luxury phones in the Nordic markets including Finland later this year, Torres said, adding that it would open shops in Japan and Latin America in the next two years.