Nokia is hoping ot raise some cash in selling their luxury cellphone brand, Vertu, to private equity firm Permira. According to the Financial Times, Nokia is reportedly in talks with Permira and one other company to sell off their luxury cellphone brand Vertu for around $265 million. However, sources familiar with the situation report that these talks are “not progressing” at this stage. Nokia’s decision to sell Vertu is reportedly part of its plan to offload divisions of the company that aren’t part of its core business and focus on its Windows Phone Lumia platform.Stay tuned with us for more breaking news. You can follow us on Twitter, Facebook, Pinterest, YouTube and check out our RSS for quick reference.