Israeli firm Sirin Labs on Tuesday launched a luxury smartphone that is priced upwards of $14,000 (Rs 9.3 lakh approximately), making it the most expensive phone available for sale in the world. The dubious honour was held previously by Vertu’s Signature Touch phone, which cost around Rs 6.5 lakh. Sirin Labs’ Android phone, dubbed “Solarin” claims to provide “military-grade” security through a chip-to-chip 2560bit encryption system.

During the launch event in London, the makers claims the phone has been designed for an international business person who needs the best-in-the-market security, usability and design. The security system is set up through a physical switch on the back of the device, which when flicked on puts the phone in “shielded mode”, offering options for encrypted calls and messages, Wired reported.

The phone comes with Qualcomm’s Snapdragon 810 processor with X10 LTE and a 23.8 megapixel camera. It has a 5.5-inch IPS LED 2K screen, a sound system with three “bass-boosted” speakers and WiFi capabilities that can transfer data at 4.6GBps, among other features.