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[taslayer]

If you thought the iPhone was overpriced, stop reading this story now.
Nokia Corp.'s exclusive Vertu subsidiary is selling a $25,400 phone in shops in Paris, London, Hong Kong and Singapore.

The Ascent Ferrari 60 was created to commemorate sports car maker Ferrari SpA's 60th anniversary. The phones are hand-assembled using top-of-the-line stainless steel and titanium components, as well as leather from authentic Ferrari suppliers, said Elizabeth Maragh, a Vertu spokeswoman. Only 60 of the phones have been produced.

Vertu has been selling the Ascent Ferrari 60 for several months now, alongside another Ferrari-inspired phone called Ascent Ferrari 1947 Limited Edition, but it had not spoken publicly about the Ascent Ferrari 60 until photographs of the device were leaked via the Internet this week, Maragh said.

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