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Luxury Phone Maker Vertu Bit the Dust Because the Rich Use iPhones

Luxury smartphone manufacturer Vertu has gone into liquidation after its famously expensive handsets failed to capture the imagination of the rich and famous. The closure of the UK-based firm, which made alligator skin, gold and diamond-encrusted phones priced from £11,100, will result in the loss of 200 jobs. Vertu was founded by Finnish mobile giant Nokia in 1998 and launched its first luxury mobile phone in 2002, before it was sold in 2012 to private equity group EQT VI.

Luxury smartphone manufacturer Vertu has gone into liquidation after its famously expensive handsets failed to capture the imagination of the rich and famous. The closure of the UK-based firm, which made alligator skin, gold and diamond-encrusted phones priced from £11,100, will result in the loss of 200 jobs. Vertu was founded by Finnish mobile giant Nokia in 1998 and launched its first luxury mobile phone in 2002, before it was sold in 2012 to private equity group EQT VI. SINGAPORE, SINGAPORE: Display of Vertu's world's most expensive mobile phones at a showroom in Singapore 13 August 2004. Despite their hefty price and relatively limited functions, sleek handcrafted phones manufactured by Vertu, an independent unit of wireless communications giant Nokia, are becoming sought-after status symbols in Asia..AFP PHOTO/JIMIN LAI (Photo credit should read JIMIN LAI/AFP/Getty Images) Vertu is a good example of how money can’t buy you taste (Photo: Getty) The phones, which featured sapphire crystal screens and ruby bearings, were hand-assembled in its factories in Hampshire, and attracted celebrity fans including actress Gwyneth Paltrow (Vertu’s first customer), Jennifer Lopez and Madonna, reportedly. The company was sold again for £50m to Turkish businessman Hakan Uzan in March, who promised to help Vertu “realise its full potential”.

Uzan slashed the price of the firm’s non-customised models to between £4,000 and £7,000, but reports continued to circulate over its poor finances. Its manufacturing arm went into administration last month. VERTU’S MOST RIDICULOUS PHONE Vertu’s most expensive handset was the Signature Clous de Paris Red Gold, which featured 18 carat red gold, black sapphire keys and a £39,100 price tag. Uzan will retain the brand, design licences and technology, and intends to rebuild the company at a later date, a person close to the matter told the Financial Times. While aimed firmly at a luxury market, Vertu’s creations failed to attract much praise in technology circles. They originally ran Nokia’s Symbian operating system before switching to Google’s Android in 2013, and failed to support Bluetooth or GPS when they first launched.

The tastes of the rich and famous gradually shifted away from blingy mobiles and BlackBerries to iPhones in the late 2000s, which more often than not are the celebrity’s handset of choice. iPhones have become aspirational status symbols for people on all incomes, but those with flashier tastes could employ the services of businesses built around blinging up existing iPhones with diamonds, or creating 24 carat gold cases, rather than splash out on an expensive handset which will still require replacing every few years. - By Rhiannon Williams - inews.co.uk


Read more at: https://inews.co.uk/essentials/news/technology/luxury-phone-maker-vertu-bit-the-dust-because-the-rich-own-iphones/

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Joint Event: The Failed Coup in Turkey: One Year Later

July 12, 2017 – A year after the failed attempted military coup in Turkey that took place in the night of July 15, 2016, we are reminded about the universal value of a basic norm: in all modern democracies the military respects and abides by the principle of civilian rule. Any military uprising or coup against duly elected civilian authorities is treason. On July 12, 2107, the Global Policy Institute, (GPI), in cooperation with BAU International University, and the July 15 Foundation, a Turkish organization, held an event titled: The Failed Coup in Turkey: One Year Later Reflections by Turkish and American Experts and Eyewitnesses

Destiny, Duty and Democracy: Turkey A Year After the Failed Coup

Vahide Sevkatlioglu was willing to die. So was Ilhami Cil. They are two of the roughly 2,500 people who now carry the formal title "Gazi," or veteran, in Turkey after flooding the streets on July 15, 2016 to stop those trying to topple their government. For them, it was a mixture of duty and destiny; a unifying night for a country with a history of military coups. This was the night they said "enough." Even critics of the government made it clear they were relieved to see the coup fail. But the tumultuous months since have created a Turkey where democracy's definition depends on who you ask.

TRT World Publishes Exclusive Book on July 15 Coup Bid

AA - As Turkey started a week-long series of events to mark the first anniversary of the July 15, 2016, coup attempt, TRT World, the country’s first English-language news channel, has published an exclusive book on the deadly putsch. The book -- "History and Memory: TRT World in the Face of July 15 Coup" -- deals with the coup’s background, nature plus its leading actors. It also describes the experiences of TRT World employees on the night of July 15 and the following morning.

Eren Ozmen and Daron Acemoglu Honored by the Carnegie Corporation of New York

Turkish American businesswoman Eren Ozmen and Academician Prof Daron Acemoglu honored by the Carnegie Corporation of New York. The Corporation, established by Scottish immigrant Andrew Carnegie, thanks naturalized citizens who make America strong. Carnegie Corporation of New York, its board of trustees and staff, invite Americans to celebrate naturalized U.S. citizens with its annual Great Immigrants tribute. The philanthropic foundation today announced the 38 individuals who will be honored on the Fourth of July when the Corporation salutes the invaluable role that immigrants play in helping to advance our society, culture, and economy. Each year since 2006, the Corporation has recognized the contributions of naturalized citizens, and for 2017, the honorees represent more than 30 different countries of origin, a wide range of personal immigration stories, and a high level of professional leadership in numerous fields.

Varol Ablak's Zing Basket Delivers Groceries in Record Time with New Online Service

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Varol Ablak picks groceries in Zing Basket?s cold storage warehouse. Image courtesy of Zing Basket.
Imagine having milk, bread, eggs and other necessities brought to your door in less time than it takes to order a pizza. That’s the goal with Zing Basket, an on-demand grocery delivery service that just launched in Pittsburgh. Described as the nation’s first 45-minute online grocery delivery service, Zing Basket allows customers to choose from over 2,000 products and then place their orders by website or phone. The orders are fulfilled on-site at Zing Basket’s 9,000-square-foot warehouse in Green Tree and delivered to doors throughout Pittsburgh. Right now, the service extends to Downtown, Oakland, Mt. Washington, Mt. Lebanon, Robinson, Scott Township, Dormont and Crafton.

Roketsan and Sierra Nevada Corporation Sign MoU

Roketsan Missiles Industries of Turkey and Sierra Nevada Corporation (SNC) have signed an MoU at Farnborough International Airshow to explore broad areas of cooperation in air and space. SNC offers five decades of experience as an integrator and innovator in aerospace, aviation and electronics. Roketsan provides customer solutions for a broad range of capabilities and services spanning land, air and maritime defence needs.

Reza Zarrab's First Hearing to be Held in US in January 2017

Image (MENAFN - The Journal Of Turkish Weekly) A U.S. court has ruled to start the trial of Reza Zarrab, an Iranian-born Turkish businessman who was arrested in Miami in March for attempting to evade U.S. sanctions on Tehran, on Jan. 23 next year. The decision on June 20 came after U.S. District Judge Richard Berman in Manhattan denied bail on June 16 to Zarrab, who had applied to live in a lavish Manhattan apartment on a 50 million bond with private armed guards before going on trial.

Iranian-Turkish Businessman Seeks Bond in Sanctions Evasion Case

Image WASHINGTON- Lawyers for an Iranian-Turkish national arrested in March on charges of conspiring to evade U.S. sanctions against Iran have asked a federal court to set a $50 million bond for his release until trial. Reza Zarrab is one of three people charged in what prosecutors allege was a five-year scheme involving millions of dollars in transactions on behalf of the Iranian government and businesses. Iran has been under various U.S. economic sanctions since 1979 that bar transactions involving U.S. entities and those related to Iran and its government. Those are different from the more recent sanctions put in place in response to its nuclear program, which were lifted earlier this year.
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