Would you pay $10,000 for a secure smartphone?

Sirin Labs is set to enter the smartphone market with a device focused on internet security and privacy.

Sirin Labs is gearing up to become a new contender in the smartphone space thanks to $72 million in investment and the launch of a high-end mobile device focused on security.

On Monday, the British-Israeli startup said the new device will be launched in a dedicated store due to open in London Mayfair next month.

Dubbed "Solarin," the smartphone will be aimed at executives who want "the highest level of privacy and connectivity with uncompromising quality," according to the firm.

We know relatively little about the phone beyond its name, but Sirin Labs' aim is to create an advanced smartphone which includes "the highest privacy settings," powerful processing speed and luxury materials.

Reuters reports the device will be based on Google's Android operating system. In addition, the smartphone will include military-grade security, which may be, for example, encryption capabilities.

CEO Tal Cohen commented:

"Unlike mainstream technology companies where price is paramount, Sirin Labs doesn't need to wait a couple of years before bringing the most advanced technology to its customers.

Cost doesn't influence our decision making; optimal functionality and quality do."

Sirin Labs' co-founder and president, Mosche Hogeg, says the devices will go for at least $10,000, with a price range leading up to $15,000, according to TechCrunch.

Comparing the company to Tesla, the executive said these high prices won't necessarily fixed in the future -- just as the automaker has slowly lowered prices, Sirin Labs may follow suit, too.

Should the device capture the interest of consumers -- and potentially lure BlackBerry enterprise users away from the fold -- Sirin Labs could potentially become a rival of Silent Circle, which already offers a privacy-centric Android smartphone range, albeit for a far lower price tag.

The company currently offers the Blackphone 2, a device built on a custom version of the Android OS to offer better privacy, control and encryption for $799.

Sirin Labs was founded and invested by Kazakh businessman Kenges Rakishev, Israeli venture capitalist Moshe Hogeg and his Singulariteam vehicle and former McKinsey consultant Tal Cohen. Chinese firm RenRen has also invested in the startup.

The company is based in Tel Aviv, Israel, and is led by Fredrik Oijer, the former product director of Sony Mobile.

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