£5 Million Diamond-studded iPhone 4 Unveiled

An Apple iPhone 4 decked with 500 diamonds, has been unveiled as the world's most expensive mobile phone,

The device was designed by British designer Stuart Hughes, who was commissioned by an Australian businessman who wanted him to make two.

The diamond studded smartphone is worth a whopping £5 million and features 500 individual flawless cut diamonds totalling 100 carats.

The phone also comes with two interchangeable diamonds that can be placed on the home button. One is a single cut 7.4 carat pink diamond and the other is a rare 8 carat single cut flawless diamond, which have a combined worth of £4 million alone.

The back of the iPhone 4 is plated with rose gold and the Apple logo has been decked with 53 diamonds. The iPhone 4 also comes with its own 7kg granite security box.

Stuart Hughes, who is famous for designing ludicrously expensive smartphones, said in a statement to The Daily Mail: “It was a fantastic challenge and I am really pleased with the end result - the phones look superb. Phones are so popular at the moment and this is the ultimate design for one. It was a very exciting project.”