Britain-based luxury phone-maker Vertu, which rolled out jewel encrusted smartphones costing as much as $46,600 is not finding buyers for its devices, setting the stage for its collapse, the media reported. The company recently faced financial difficulties and will be liquidated after a plan to save it failed, BBC reported. Nearly 200 jobs will be lost as a result of the company's liquidation. "Well it's gone into liquidation and I'm not being paid by them anymore," a spokesman for the firm was quoted as saying. Vertu phones carry hefty price tags and one model featuring 18-carat red gold could cost as much as $46,600. Vertu was founded by Nokia in 1998, but it was sold in 2012. The following year, Vertu switched from using Nokia's Symbian operating system to Google's Android.