Sirin Labs AG said that it had raised $72 million in private funds to introduce the device, which would be aimed at executives.
“After over two years of intensive research and development, SIRIN LABS is poised to present our first product, a mobile phone built without restriction or compromise,” screams the company website. But there is not much information on the phone itself, except for the suggestion that it might be called Solarin. The phone will be presented at the company’s flagship store in London.
Sirin Labs, a Swiss start-up sponsored by $72m (£50m) in seed financing, is ready to launch the device into a crowded market in which the high-end is dominated by Apple’s iPhone.
The company has been started by Kazakh investor Kenges Rakishev, Israeli venture capitalist Moshe Hogeg and McKinsey-trained serial businessperson Tal Cohen. The first two joined in 2012 while Cohen became a part of the company a year later.
But the trigger for creating a smartphone came in May 2013 when Kings’ phone was hacked.
“(Our) smartphone …brings the most advanced technology available – even if it is not commercially available – and combining it with almost military-grade security,” said Sirin co-founder and president Moshe Hogeg.
This phone will run on the Android operating system and run otherwise unspecified technology two to three years in advance of the mass market, he said. Hogeg told Reuters the phone would sell for less than $20,000.
He believes thousands of executives in the Europe and the United States and will pay that sort of price since the cost of being hacked could be more expensive in terms of information lost. Hogg put the value of the global luxury phone market at about $1.1 billion, a fraction of total mobile phone sales. Most top end phones sold are more for status – regular phones with gold and diamonds.
Whereas in 2014, BlackPhone was first claimed that its smartphone is designed for Security.