Celsius X VI II, a France-based startup firm has released a cell phone with flip form factor, which is priced at $320,000. Yes, you heard the price tag right. The phone, called LeDIX, is a combination of both mechanical watch and cellular phone.

LeDIX Titanium phone is a brainchild of Thomas Pruvot. There is a little story behind the scene as to why he designed such a device. In 2005, while on a flight to Hong Kong, Pruvot's phone eventually turned off after battery drainage. So to know the time, he had to ask his co-flyers frequently. After landing, he started thinking about ideas to skip these annoying moments as most of people have stopped wearing hand-watches after the evolution of cell phones. Ultimately, he decided to develop a phone equipped with a traditional watch. And after four years of work, the LeDIX cell phone came into existence.

According to the company, the $320,000 phone is worth every single penny and is a symbol of one's prosperity and success.

LeDIX is a limited-edition handset made up of titanium and sapphire crystal. The mechanical Swiss watch gives it a feel of pocket-watch. In European market, the phone is priced at 250,000 Euros. Celsius is limiting the production of its three tourbillion models of it LeDIX phone to 40 units. The second product will be released later this year, while the remaining one is scheduled for 2013.

"The mobile phone is becoming the ultimate accessory. We see our product as the pocket watch for the 21st century," said Edouard Meylan, another Celsius co-founder.

Now-a-days, cell phones also serve the purpose of a watch other than for calling, Internet and multimedia purposes. On the other hand, hand watches are turning into luxury equipment, showing how rich you are when wearing a Rolex or TAG Heur watch.

Celsius' $320,000 Titanium phone serves as both - watch and cell phone. If you have money and love mechanical watches, especially when they are integrated on phone, then you will love to buy this Titanium phone.

(reported by Jonathan Charles, edited by Dave Clark)