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The Luxury Mobile Phone Market: Now And Beyond
September 11, 2015
The luxury mobile phone market is one that is rife with the sort of gold-cladded, gem studded and extravagant products that you may expect from any item purporting to me of the utmost quality, of luxury. Apples products that married truly magnificent ergonomics, design, functionality and the development of a sort of cult following as a result resulted in an amazing and long line of products.
A Luxury Product?
The mobile phone has gone through an amazing process of evolution, and our pawnbroking specialists decided to provide a quick overview on the subject. From the old school ‘bricks’ that you would associate with classic TV shows such as Miami Vice and Dallas to the ultra-modern glass and metal creation that is the Apple iPhone. Each generation of mobile phone has represented the style and era from which it came.
For a while it seemed like the phone wasn’t ready – and didn’t feel or look like – a very luxurious product, despite its very advanced capabilities. Indeed the Apple iPhone has some amazing specifications that have to a certain extent, eradicated the need for a PC
Luxury Mobile Phones
Maybe partly because of this global domination other companies wishing to get into this market are finding it difficult, but there are many other barriers to entry.
‘The problem is not shortage of demand alone. Regulatory issues, lack of appropriate retail environment, high import taxes, smuggling, after sales service and failures on part of the local distributors, say people dealing with luxury goods, have kept the market for such embellished handcrafted pieces very limited and under-promising.’ Vijaya Rathore
Vertu, Mobiado and Lamborghini are all names that have become synonymous with this market. Some with more successful than others, and some with more extravagant ideas than the next.
In a 2014 article heralding Vertu as the market leader in the luxury mobile business may only have been relevant then as this fast paced market continues to show a dynamism and change. The company’s ‘Signature touch’ mobile phone featuring sapphire crystal material and a full HD display does come across as desirable and emphatically luxurious, with a leather clad back. But rather than employing diamonds and crystals a simple ‘handmade in England’ reminds you of this phones eminent quality.
However some car companies like Lamborghini are planning on re-defining the luxury phone market with pieces that are advanced with ‘classic Italian design’, just like their cars, no? In an enlightening interview with Tonino Lamborghini, he recalls his position, which he takes pleasure in being completely separate from the petrol-fueled world associated with the super-car industry. On why he decided to start his company – Tonino Lamborghini Style and Accessories – in 1981 he said:
I was working with my father for the family business when I felt the need to do something of my own, different from the world of cars and engines. I recognised that I had an important name that would help me in this venture, but I also had strong ideas, great ambition and flair, which I knew would help me succeed. I really liked brands such as Gucci and Hermès and was inspired by them to create similar products under the Tonino Lamborghini brand. Just like Gucci was inspired by the equestrian world with iconic elements such as a bracket, or bite, I took inspiration from cars and incorporated elements such as the bearing, the piston rod and the suspensions into my designs.
Being such a competitive market companies must really innovate to produce something unique and stand out from the rest of this luxury sector. All these companies cite superior craftsmanship and materials as being paramount to their feel as a luxury mobile phone technology. Lamborghini say that their phones are targeted ‘at the young, successful and self-confident. Those who are far from being stereotypes, preferring a unique style through sophisticated Italian design but most of all do not compromise on functionality and specification.’ It seems that the tech materials in Antares, that look incredible, match this craftsmanship with the best materials to create something exceptionally appealing for the young and successful.
The Future of Luxury Mobiles
The companies move towards mobile technology is natural, says Lamborghini. He wanted to embrace the hardest challenge in the luxury market represented by the luxury mobile phone. Which companies will we see continue to emerge in this hard to penetrate market reserved for the ultra-rich and elites? How will these companies differentiate themselves from global market leaders such as the iPhone, which seems to occupy a realm that is luxury but also mass market? In the coming years we are likely to see phones that will blow all of these competitors out of the water, not with luxury fittings and finishes, but advanced technology.
New Bond Street Pawnbrokers are a discreet, luxury pawnbroking service specializing in loans against diamonds, fine jewelry, classic cars, fine wines, fine art, antiques, rare books, handbags, and fine watches. Contact us to discuss arranging a valuation today.
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