Apple Inc.'s iPhones become suddenly cheap with the launch of a luxury smartphone from Vertu - the Signature Touch - priced at $10,000.
Vertu prides itself as a "luxury company which happens to produce mobile phones."
Vertu's Signature Touch model comes with luxury features and services. One such lavishness is the 24-hour worldwide Concierge service accessible from the handset's Vertu Key. Through Concierge, users are personally assisted with recommendations and priority bookings. Concierge assists users' every request "from finding the perfect gift to accessing money-can't-buy events."
The luxury smartphone also comes with Vertu Life service that sends out invitation-only events to exclusive parties and closed-door shopping opportunities of high-end fashion brands. All privileges that come with the phone are personally tailored.
Each handset model that Vertu creates is fashioned with tactile materials, outstanding engineering and hand craftsmanship, the company boasts of in its web site.
Each phone is handmade in England by a single craftsman in order to ensure that high standards will not be compromised - as compared to factory and mass produced handsets from other companies.
Vertu boasts that it pioneered the use of Sapphire Crystal screen as "diamond is the only material strong enough to cut, grind or polish" that render a scratch proof 4.7 inch full screen and delivers crystal clear viewing experience to the users.
The lavishness goes as far as ringtones performed by the London Symphony Orchestra and Bang & Olufson and Dolby Laboratories taking care of the phone's audio performance.
Qualcomm Snapdragon processor chip and Google's Android 4.4 (KitKat) were partners for Vertu's software.
Max Pogliani, CEO of Vertu, said the Signature Touch is more than meets the eye.
"It really depends on how you look at it, because especially today a mobile phone is something which is with you day and night. It's something very personal and the intensity of usage in these two to three years is large compared to other luxury items. If you take a nice bottle of Chateau Lafite you can have it finished in one hour and the price could be the same," Pogliani said in an interview with CNBC.
The Signature Touch may be available soon at Vertu's Australian stores - LK Jewellers in Melbourne and Sydney and Vertu Boutique - Castlereagh Street also in Sydney.