"Vertu as a company is not unaware of ongoing developments in technology but they need to be proven before they are included in our products. For example, there are so many Bluetooth protocols and there is no one accepted standard," said Giles Rees, Vertu's vice president of global sales, at the launch of Vertu's latest line of luxury phones, coined The Ascent Collection.
Besides banking on tried-and-tested technologies, he maintained that Vertu's customers do not expect the latest frills like multimedia messaging capabilities and built-in cameras.
"For our clients, our research shows that they mostly use their phones to make calls and send text messages. They are interested in newer technologies like Bluetooth but these are not the main drivers for purchase," Rees stressed.
Priced at $4,057 (around £3,000), the new handsets are further testament to the firm's mantra of focusing on aesthetics and quality but not cutting-edge functionality. They are crafted with a combination of precious metals, ceramics, Sapphire crystals and hand-stitched leather but come equipped with what most would consider as rudimentary features such as monochrome display and text-messaging functions.
"We're still sticking by our initial launch policy of upgradeable technology. We will be able to offer firmware upgrades for both existing and new products," he added.
Headquartered in the UK, Vertu recently embarked on an expansion trail in Asia. Last month, the firm opened another retail store in Singapore and Rees said plans to expand its direct presence in Hong Kong and China are also in the pipeline.
"There is a natural propensity for people in Asia to purchase luxury goods," he claimed.
Echoing his sentiment, Bryma Ma, a senior manager with market research firm IDC Asia-Pacific told CNETAsia in a previous interview the luxury goods market has proven to be resilient to economic slumps.
"In Asia, the buying patterns and replacement cycles for handsets are very high. Mobile phones also serve as status symbols, especially in countries like Singapore and Hong Kong, so there is a lot of potential," Ma said.
