vertu

Vertu is auctioning off its back catalog of phones with bids starting at $26,000. The company has had to shut down following financial issues.

Vertu, the British firm that manufactures luxury smartphones costing up to $52,000, is closing down. The news comes just four months after the company was purchased by businessman Murat Hakan Uzan, who was unable to save it from bankruptcy.

It seems Vertu is in a bit of trouble. The company reportedly is failing to pay out proper pension bonuses, and even may be refusing to fork over the money owed to the previous owner as a result of a sale. Vertu makes luxury smartphones that can cost tens of thousands of dollars.

Vertu has announced a new partnership with TCL Communication which will bring TCL's technology to the next 30,000 smartphones.

British smartphone maker, Vertu, has been purchased by a group led by Hakan Uzan for £50 million. It's unknown what the future holds for the smartphone company.

Vertu, the maker of ultra premium smartphones, has a new line of Aster phones available. The phones cost $4,200 to start, with specs including a Snapdragon 801 and Android 5.1 Lollipop.