If you think Apple Inc. (NASDAQ:AAPL)’s iPhone is the top of the line and most expensive smartphone, then think again. Apple sells the iPhone for peanuts compared to what one so-called “luxury” brand sells its new smartphone for. Since Apple itself is seen as a sort of luxury brand, “luxury” probably just doesn’t cut it in this case.

Vertu vs Apple smartphone
Image via: CNBC

Signature Touch smartphone features concierge service

Vertu has launched a smartphone it’s calling the Signature Touch. The “cheapest” model in the line sells for $10,750 (€7,900). CNBC reports that Vertu has branded itself a “luxury company which happens to produce mobile phones.” The company claims that the Signature Touch has high-end technology, has top-of-the-line craftsmanship and is made from the best materials. But the features don’t stop there.

Vertu is also including specialized concierge service for those who buy its ultra-expensive smartphone. Vertu’s CEO told CNBC that their smartphone is more than just style, as the technology they used in it closely rivals the newest smartphones from the high end of the market.

Smartphone specs

Vertu has gone with the best of the best in the technology industry in terms of component suppliers for the smartphone. Dolby Laboratories, Inc. (NYSE:DLB) and BANG+OLUFSEN NAM. DK 10 (FRA:BUOB) took care of the sound components. The camera is made by Hasselblad, a Swedish company.

The smartphone also has a 4.7-inch full HD display that is made of sapphire crystal—something some are hoping Apple Inc. (NASDAQ:AAPL) will do with the iPhone 6, although this appears less and less likely. The Signature Touch smartphone runs on a Snapdragon processor made by QUALCOMM, Inc. (NASDAQ:QCOM) and the latest version of Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)’s Android operating system, which is KitKat.

Previous Vertu smartphones

In October, Vertu launched other ultra-high end smartphones. The Constellation was priced at around $6,700 (€4,900). In early 2013, the company launched the Ti, which was started out at around $10,750 (€7,900) as well. Vertu CEO Max Pogliani compared their smartphones to a really nice, expensive bottle of wine.

“If you take a nice bottle of Chateau Lafite you can have it finished in one hour and the price could be the same,” he told CNBC.

Vertu is a privately owned company that was once part of Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V).