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Nokia + Ferrari = £12,500 phone

The limited edition Vertu Ascent Ferrari 60 phone has been inspired by Ferrari's car design

Vertu, the luxury division of Nokia, today announced a £12,547 mobile Ferrari-branded handset.

Released to coincide with Ferrari's 60th anniversary, the Vertu Ascent Ferrari 60 phone went on sale in Nokia stores in London, Paris, Hong Kong and Singapore this morning, Nokia said.

"We worked very closely [with Ferrari] to develop this limited edition of 60 phones. The detailing on the phone is inspired by detailing on a number of Ferrari cars," Vertu spokeswoman Elizabeth Maragh said in a statement.

Consumer technology firms teaming up with luxury brands is of course nothing new - just this week Samsung joined forces with fashion designer Giorgio Armani to produce a range of phones, TVs and other products.

LG recently signed up fashion house Prada to produce the LG Prada phone, while Dolce & Gabbana have created a limited edition gold-coloured version of the Motorola Razr handset.