French design firm Christian Dior is looking to break into the high-end mobile phone market, according to a report in The Wall Street Journal. The handsets are expected to cost around  $5,000 and launch initially in emerging markets in China and Russia. Dior reportedly likened designer handsets to its watch and jewelry lines.

According to the report, the company hopes to initially sell 10,000 phones a year. The handsets will be made by French manufacturer ModeLabs, and are rumored to include a digital camera and touchscreen.

Although the $5,000 price tag isn’t outrageous for designer goods, it could be set a steep precedent for wireless devices. Other designer handsets such as Dolce & Gabbana’s RAZRs from Motorola and Prada’s handsets from LG have been priced around $600.