Champagne Phones in a Beer Economy

The recent release of the Vertu $10,000 Ferrari phone left me wondering who buys these things, and will they still be buying them in the tanking economy?

And of course there has been the pricey Prada Phone, Armani phone, and who knows how many others. “I think a lot of those sales are drying up right now,” said mobile phone analyst Avi Greengart. “From what I am seeing conspicuous consumption is going out of style.” You think?

But perhaps the best reason? You are looking at it. “If you look at the publicity they generate,” said Mr. Greengart, “it’s almost a marketing expense.”