Would you buy a phone that costs $6,800?

On October 4, luxury phone maker Vertu launched a $6,800 luxury smartphone, the Aster, which has a 5.1-inch sapphire crystal screen and is made of titanium, the same material used to make expensive Swiss watches. Customers can even customize the handmade phone with different materials, including ostrich leather.

Although it still uses high-end materials, the design of this phone marks Vertu's shift from flashy diamond-encrusted exteriors to more sophisticated products that appeal to a wider range of users. "Vertu's designs have changed a lot to cater to the needs of the Western market, which still values ​​high quality but is more low-key," said Daniel Gleeson, senior mobile phone analyst at market research firm IHS.

Vertu usually targets wealthy consumers in China, Russia and the Middle East. According to data from European market research firm Euromonitor, global sales of luxury smartphones exceeded $1 billion last year, with China, the United Kingdom, the United States and the United Arab Emirates being the largest sales markets for luxury smartphones.

While wealthy consumers in China and the United Arab Emirates demand designs that include displaying wealth, the mood among high-end phone buyers has changed. Vertu's Aster phone is cheaper than its Signature Touch smartphone, which was released earlier this year and initially sold for $7,600. The price can rise to $15,000 if the user has special customization requirements.

Vertu Chief Executive Max Pogliani said the company is looking to create a slightly lower-end luxury smartphone. "We are exploring the future, we are studying the market and the consumers, we will see what we can do to find out what Vertu really wants, and then we may launch new products at different price points," he said.

BlackBerry announced the P'9983 Porsche Design smartphone in September, priced at £1,400, to enter the low-end market for luxury smartphones. Swiss watchmaker Tag Heuer is also trying to gain a foothold, launching the Meridiist Infinite phone earlier this year, which it claims can be charged by solar energy.

But Nitin Bhas, an analyst at Juniper Research, a British market research company, said that these high-end smartphone manufacturers may jeopardize their uniqueness by lowering prices, making their phones very cheap. "Any small change in the price of a product will have a strong impact on its demand, such as for consumers, the price reduction of these luxury products will reduce their value and erode the uniqueness of the product," said Bhas.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.