Aimed at the luxury market, the phone will incorporates technologies which are 2-3 years ahead, of being launched in the consumer market, have military grade encryption, and have a definite flaunt value as well.
A British-Israeli start-up will debut a new series of smartphones targeted at a niche group of executives who want military grade encryption in their smartphone without compromising on its oomph factor. The asking price for this beast will be close to $20,000.
Sirin Labs AG has disclosed today that it has raised $72 million through private funding to launch its ultra-secure device, aimed at executives. Its first brick and mortar store is set to open in London’s Mayfair next month.
“(Our) smartphone …brings the most advanced technology available – even if it is not commercially available – and combining it with almost military-grade security,” said Moshe Hogeg, President and co-founder of Sirin.
Android aficionados will be glad to know that their device will be based on Android and will house technologies which are two-to-three years ahead of being released for mass market consumption, said Hogeg.
He went on to add, that the phone would sell less than $20,000.
Hogeg believes thousands of executives, especially from Europe and US, will opt for the device since the cost of their smartphones being compromised, including that of losing information, is greater than the cost of his phone.
As per Hogeg’s estimates, the global luxury phone market to be nearly $1.1 billion – a tiny of fraction of the total mobile phone sales worldwide. The cream of high end phones have more status value attached to them as compared to regular smartphones adorned with jewels such as diamonds and gold.
Case in point: Apple’s iPhone 5 Blackk Diamond sold for $15.3 million while Vertu’s phones have a starting price of $10,000 and go upto $300,000.
Singulariteam, an Island based venture capital fund is financing Sirin’s venture, which co-incidentally was co-founded by Hogeg. Furthermore, Sirin has also the backing of Kenges Rakishev, an investor from Kazak as well as from a Chinse social media networking company called Renren.
The idea for this venture came in 2013, when Rakishev’s phone got hacked. Rakishev had then approached Hogeg with the idea of making an ultra-secure phone, which will incorporate new technologies, waiting in the wings for making their appearances in consumer devices.
“There were no good solutions that combined high-end technologies with maximum security,” said Hogeg.