Financial Times has reported that Nokia is working on a strategy to sell off their Vertu division.
Vertu makes luxury phones which are popular amongst celebrities and business executives.
These devices are usually based on the Symbian mobile platform which is no longer the core mobile OS for Nokia devices.
It is not clear whether Vertu would switch to Windows Phone in the future.
As of now, Nokia has said to have hired the services of Goldman Sachs to oversee the sales process.
Reports say that some private equity groups are interested in this niche mobile company.