Would you pay $329,000 for a phone with a built in watch? Celsius X VI II is tapping the luxury phone market with its titanium Le Dix, a limited-edition titanium and sapphire crystal phone that has a built-in mechanical watch. And they're not the only ones. More high-end devices are being introduced as the luxury mobile phone market booms. According to Euromonitor International, it's expected to grow 37 percent between 2010 and 2015 market to $719 million, with biggest demands in China, Japan, and parts of the Middle East and Russia. Bloomberg Businessweek takes a look at the trend.

Want to see more toys and gadgets for the elite? Wired's Gadget Lab came up with "10 insanely expensive gadgets for the elite 1 percent." A $300,000 motorcycle? A $45,000 work station that looks like something out of the Aliens movie? A $6,400 toilet with a touchscreen interface?