I'll admit that I was skeptical upon hearing of Nokia's idea a few years ago to start up a small subsidiary, called Vertu, that would cater to "splurging millionaires" offering diamond-encrusted phones for $20,000. The folks at Vertu claimed it was no different than buying a super high end watch. While some of the prices came down (as low as $4,000 in some cases), some people also noticed that for your additional thousands of dollars, you actually got a much less technically advanced phone. Yes, it might have some diamonds, but it might also already be technologically obsolete. Of course, it turns out that splurging millionaires don't really care about being on the cutting edge. They do, however, seem to care about buying diamond-encrusted phones. A couple years ago, we noted that the phones were doing well in Asia, and the latest report is that Vertu simply can't keep up with the "high" demand for their offering. Of course, not being able to meet demand doesn't always mean there's a huge demand. It could simply mean that the company is pretty weak on the supply side (gotta keep buying those diamonds). However, the company does indicate that it has "tens of thousands" of customers, but not "hundreds of thousands."
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