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Vertu, formerly Nokia’s luxury phone subsidiary, now 90% owned by a venture fund company, has appointed Anssi Vanjoki as its chairman. Vanjoki, a 20-year Nokia veteran once thought to be the next CEO of Nokia before being sidelined in favor of Stephen Elop in 2010, was chosen simply due to his expertise, experience, and knowledge about the mobile phone industry.
“The irony here is that Vanjoki, who refused to produce models ‘unless they sell tens of millions of units,’ will now be selling ruby-covered phone ranges that sell in dozens of units,” said analyst Tero Kuittinen from Finnish mobile firm Alekstra.