LG watch phone to cost £1,000

The mobile watch phone was showcased at MWC 2009

LG's futuristic watch phone will be selling for a staggering £1,000, according to reports.

Mobile Today has said that Orange will be marketing the device exclusively across Europe. The mobile watch phone, which still needs a headset, was showcased at the Consumer Electronics Show in January and at Mobile World Congress in Barcelona last week.

Bizarrely seeming to contradict itself, Mobile Today goes on to say that the gadget "will cost around £500 with an additional minimum line rental of £40 per month".

It remains to be seen how many devices are likely to sell at that price during the current recession, when most high range smartphones are actually a great deal cheaper.

LG said that it would not comment on rumours and speculation, adding that it did not price handsets - or mobile watches - iteself, leaving that to the mobile operator.