A new Vertu-TCL deal will include the use of TCL's technology for Vertu's phones. The announcement was made today by Vertu, a well-known luxury smartphone manufacturer. Vertu doesn't mention any specific terms of the deal nor does it mention what technology exactly will be used for Vertu handsets, but it does state that the deal is valued at $40 million and that the tech will be used for 30,000 Vertu phones, which likely means that the deal will afford Vertu the use of the technology from TCL for new devices, and not those which are already available on the market for consumers.
Vertu says this is the first investment to be made with TCL Communication but that it won't be the last as it has plans to make "many" additional investments with the company for future endeavors, whatever those happen to be. For now, TCL and Vertu will be working together on a series of handsets. Unlike the deal between TCL and BlackBerry though, where TCL builds BlackBerry's devices like the KEYone while BlackBerry works on the software, the TCL technology that will be used in Vertu phones will be handled completely by Vertu from its hardware facility in Church Crookham, Hampshire, which shouldn't be a surprise as each device is handcrafted.
More than just modernizing its future handsets Vertu is also looking to modernize its business and the deal with TCL is heralded as a big step towards realizing that goal. Vertu says that teaming up with TCL will include some restructuring but that it won't tamper with or change the level of craftsmanship that it's known for, so Vertu phones can still be expected to be an expensive device that not just any consumer will be able to get their hands on. In addition to this new partnership with TCL, Vertu is also working towards other new partnerships that are planned for an announcement this Fall. These partnerships will be with "leading global brands" and will come alongside new products and services that Vertu is looking to launch and offer to its customers. Much like the technology from TCL, Vertu doesn't give any specifics at this time about what the new products and services are.