DUBAI: Vertu, the British maker of luxury Android smartphones, is closing its manufacturing operations in the UK after a failed buyout bid.
Nearly 200 jobs would be affected by the company’s liquidation.
Murat Hakan Uzan, who owns the Vertu brand separately, tried to buy the manufacturer out of administration in a deal valued at £1.9 million (SR9.21 million) against a deficit of £128 million, but was turned down by the company’s creditors.
The Turkish businessman said he would retain the brand, the technology and design licenses and planned to rebuild the phone maker.
Uzan purchased Vertu only in March and two months later signed a $40 million deal with TCL, the manufacturer of Alcatel and BlackBerry devices, to supply the luxury handset maker with new technology for about 30,000 units.
Vertu smartphones are considered only for the super rich, with prices for some top-of-the-range jewel-encrusted bespoke models reportedly selling for more than $360,000.
Vertu’s latest device, the Constellation, was released in February with a starting price of $6,000.
Luxury smartphone maker Vertu to close down
Luxury smartphone maker Vertu to close down
LuLu expands specialty coffee footprint in KSA with Sulalat
LuLu Group has signed a landmark MoU with Sulalat Coffee during the 5th edition of World of Coffee Dubai trade show. This exclusive retail partnership is designed to enhance the specialty coffee offerings across LuLu Hypermarkets in Saudi Arabia, meeting the growing demand for premium coffee experiences within the region.
The agreement was signed by Mohamed Haris, director, Saudi Arabia, LuLu Group, and Abdulelah Al-Murqi, marketing director, Sulalat Coffee. Through this collaboration, LuLu Group will provide a dedicated platform for Sulalat’s specialty-grade beans, which are globally sourced and roasted in Riyadh. This initiative ensures that world-class coffee quality, previously reserved for niche aficionados, is now readily accessible to coffee lovers throughout the Kingdom.
By partnering with Sulalat Coffee, LuLu Group is integrating artisanal expertise with large-scale retail excellence. Sulalat has been a pioneer in the specialty coffee movement in the region, and this partnership allows LuLu to showcase unique varieties and professional-grade roasting. The collaboration reflects a shared vision to celebrate the thriving local coffee culture and deliver an unparalleled selection of premium products to everyday consumers.
In alignment with Saudi Vision 2030, this partnership reinforces LuLu Group’s commitment to empowering homegrown brands and fostering economic diversification within the Kingdom. By providing a global stage for local excellence at events like World of Coffee Dubai, LuLu continues to support the growth of a vibrant private sector and a sustainable retail ecosystem.
As the premier platform for the industry, World of Coffee Dubai 2026 highlights the rapid growth and innovation within the regional coffee scene. With the event attracting more than 17,000 visitors and hundreds of global exhibitors, it provides a vital stage for industry leaders to connect.
