Start up OEM in the phone game is hard. Most are starting cheap and using White Label devices.
https://en.wikipedia.org/wiki/White-label_product So they end up with low end, cookie cutter stuff easily forgotten.
If a new player had guts, vision and money they might make a go of it. Something to stand out from the crowd. One or two models a year. Possibly it might get traction. No skimping on spec or quality though. Maybe not as elite as Vertu, but something along those lines. Distinctive styling and world class spec coupled with high end materials and construction.
Vertu Official Site