The world economy is entering a new great depression, but there are still some people willing to splash out on diamond-encrusted mobile telephones in Japan.
Japan’s Softbank Mobile said Friday that its eight limited-edition phones, each studded with 537 diamonds from Tiffany and Co., sold out in just three days.
The phone, designed by the luxury New York jeweller, went on sale for about 13 million yen each (134,000 dollars) on November 1.
“All eight were sold by November 3,” said Softbank spokesman Katsuhide Furuya. “I guess the buyers found them worthwhile.”
Japan is the world’s largest market for luxury goods and nearly everyone owns a cell phone, leading fashion companies to try to tap into the mobile market.