Vertu Corporation Limited, the well-known British manufacturer of luxury smartphones, has finally filed for insolvency after being passed between owners since 2012.

The company was known for its spangly, jewel-encrusted handsets which came with equally ludicrous price tags. Its entry-level handset cost a cool £6,500; prices stretched to more than £250,000 for the garish Vertu Signature Cobra.

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