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Nokia Corp. said it plans to create a new subsidiary called Vertu, which will launch a new raft of luxury mobile phones for the high-end market. (News Briefs).

RCR Wireless News, January, 2002

Nokia Corp. said it plans to create a new subsidiary called Vertu, which will launch a new raft of luxury mobile phones for the high-end market. The new company, which is expected to focus on wealthy customers in the Middle East and Asia, will have a separate management based in London. It also marks a new niche market for Nokia.

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