Staring back at visitors in a shopping mall in Hong Kong is a gold iPhone with diamonds encrusted into it. The custom made device brags a price tag of $25,000, it has a rose gold chassis ringed with a combined 7.28 carats in diamonds that sparkle with the number “5” on its back spelling out that indeed everyone’s gazing at not just a sparkly iPhone but the Latest iPhone 5.
Global luxury brands pin their hopes on China’s consumer market as Europe tries to breathe through its financial suffocation, US tries to be resilient through its growth and Japan’s economy failing to get a grip. Despite the gloom in the West and China’s economy crawling at a snail’s pace, Chinese consumers and wealthy Hong Kong local seem to be digging out their wallets and putting their plastic cards to use.
They don’t care about the price, said store manager Cytheia Lui, surrounded by gadgets ranging from shiny gold-plated iPad covers to multi-colored laptops and Headphone. Lui said that a mainland Chinese customer placed an HK$800,000 ($103,000) order for 70 custom-made iPhones, which he planned to give away as gifts.