John Paczkowski

Recent Posts by John Paczkowski

Nokia Hell Bent on Dumping Vertu Luxury Phone Unit

Maybe the dragon's an additional antenna ...

Looks like Nokia is indeed intent on unloading its laughable luxury handset subsidiary Vertu (spare change for a $310,000 gold-encrusted Symbian handset?). But it’s not selling it to private equity firm Permira as originally thought.

Evidently, Permira bailed on acquisition talks before ever making a bid. And now Reuters reports that Nokia is courting a new buyer: private equity group EQT. Talks between the two companies are currently in process, with a price of about $249 million on the table. Sources say a deal could be signed as early as this week — if it doesn’t fall through first.

The complexities of carving Vertu out of Nokia are said to be troublesome and have already delayed the deal. But if the two companies manage to accomplish that, Nokia would finally be free of Vertu, and the task of modernizing the unit’s handset portfolio — which relies heavily on Nokia’s obsolete Symbian operating system — would fall to EQT.


Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work