Russian firm launches $1.3 million mobile phone

MOSCOW: A Moscow-based firm has launched production of what has been tagged as the world's costliest mobile phone.

The Diamond Crypto Smartphone designed by luxury accessories maker Peter Aloisson is priced at a crisp $1.3 million and features a cover adorned with 50 diamonds, ten of which are of a rare blue variety.

It also features a few sections made in rose gold, the Moscow News weekly reported on Sunday.

Apart from the enticing looks, the phone manufactured by the Moscow-based JSC Ancort Company uses powerful encryption technology to provide special security.

It aims to secure the user's identity as well as store information that would help investigate kidnapping, technological blackmail, financial racketeers and corrupt state officials.