Lamborghini has entered the premium mobile phone race with a new range of exorbitantly priced, and poorly specced, feature phones, smartphones and tablets.

The luxury car company is just the latest to attempt to fuse premium materials, 'luxury' design and limited availability into a market success, after similar moves by Porsche, TAG Heur and struggling Nokia subsidiary Vertu.

The aim, as the Financial Times pointed out recently, is to mirror the market economics of the luxury watch market, where innovation (and competitive consumption) have driven massive profits for years.

The FT says that according to one researcher, the luxury mobile market will grow to $719m by 2015.

Unfortunately for Lamborghini, they've decided to bank on a range of extremely poorly featured phones, including a feature phone with a 320x160px display costing more than £1,000.

The phones, revealed by the Russian site Mail, will be released in Russia in August. There is no word on an international roll-out.

The site also revealed that the car-maker is planning on launching a tablet, again fairly low specced for the price.

We're not sure we should be surprised, however. Given that an official Lambo keyring will set you back $65, a phone for $1,000 is a bit of a steal.

The Lamborghini phones are pricey for the features - but don't rank anywhere close to the most expensive ever made. Check out the slideshow below for more details on the devices, and their (far more expensive) competition.

Loading Slideshow...

  • Goldstriker iPhone 4: $8m

    Goldstriker has made a name for itself by selling absurdly customised iPhones. Its most recent device - an $8m edition of the 32GB iPhone 4, features gold, platinum and 500 diamonds. Oddly enough they don't seem to have upgraded to the iPhone 4S - apparently they don't think Siri is as useful as a pink diamond home button.

  • Diamond Crypto: $1.3m

    Diamond Crypto: $1.3m In 2006 the Diamond Crypto was launched by Russian firm JSC Ancort, for the low price of just over a million dollars. The phone was based on Windows CE, making it immediately irrelevant, but it did come coated in 50 diamonds (including 10 blue diamonds) so the resale value was probably higher than anything you own.

  • Vertu Cobra: $310,000

    Also released in 2006, the Vertu Cobra cost about $310,000 and featured more than 439 rubies. The company only made eight, but we're guessing they sold at least a couple. Vertu, a subsidiary of Nokia, has since run into trouble and <a href="http://www.theverge.com/2012/4/29/2987191/nokia-vertu-sale-200-million">The Verge</a> recently reported it may be up for sale for $200m - a price which would not buy many more than a thousand of its recent signature 'Dragon' device.

  • Ulysse Nardin Chairman: $170,000

    Ulysse Nardin released its limited 'Chairman' phone earlier this year. A special edition made of diamond and white gold costs $170,000.

  • Tag Racer: $3,700

    The TAG Racer is made of titanium and carbon fibre, and features a 3D interface on top of Android. It will cost $3,700. "For decades, a beautiful watch was the most personal product on a person's body - in the 21st century, that became the phone," says Christoph Behling TAG's chief designer.

  • Lamborghini TL688 Spyder

    TL688 Spyder. This is a feature phone with a 240x320 display. It's made of gold and will cost around £1,100.

  • Lamborghini TL688 Spyder

    TL688 Spyder. This is a feature phone with a 240x320 display. It's made of gold and will cost around £1,100.

  • Lamborghini Launch Luxury Phones

    For another £500 (£1,575 total) you can buy the Spyder 2 - also a feature phone, with a 640x320 display.

  • Lamborghini TL700

    The TL700 is an Android (2.3) smartphone which will cost about £1,700.

  • Lamborghini TL700

    The TL700 is an Android (2.3) smartphone which will cost about £1,700.

  • Lamborghini L2800

    The L2800 Android Tablet will cost about £1,450, and comes with a 1.2 GHz, 512 MB RAM and 4 GB of internal memory. Needless to say, it is also ludicrous.

  • Lamborghini Tablet

    The L2800 Android Tablet will cost about £1,450, and comes with a 1.2 GHz, 512 MB RAM and 4 GB of internal memory. Needless to say, it is also ludicrous.