Vertu credits Apple for luxury tech boost

The market for the luxury technology brands is becoming popular among the public in the past few years. Apple has been a company focused on the mainstream, on the mass consumer, becoming successful for reliable profits in the luxury market. The British Luxury smartphone maker brand ‘Vertu’ is  also going to unveil its latest model with a Signature Touch, costing about 7000 GBP for the basic model to 17000 GBP,  if the customer wants to buy a rose gold edition.

Rich and Wealthy people have always focused on such gadgets. Mr. Max Pogliani, CEO of Vertu has recently appreciated Apple for bringing in its luxurious technology.  He said, “You do not have to be a millionaire to own a Vertu”. The tendency of showing off of wealth is found more in female and younger people, especially of the Middle East, Europe and US. He noted that the standards of technology for these luxurious devices need to be the same as others. Ben Wood, analyst at CCS has said, “The global slowdown in luxury goods, particularly in markets such as China and Russia, has affected any manufacturer targeting premium segments. With demand dropping, it’s logical for Vertu to broaden it horizons. Some high end individuals no longer see as much benefits in Vertu phone versus an Apple iPhone, which has likely further softened demand. Vertu needs to respond to this by widening its appeal.”

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