Hughes, who is known for crafting incredibly pricey luxury tech products, created the design at the behest of a Chinese businessman. According to CNN, Hughes said the businessman owned a rare 26-carat black diamond that had been passed down from one generation of his family to the next and wanted to include it in the iPhone design.

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On his website, Hughes details the features of the black diamond iPhone 5, which includes an inlay of 600 white diamonds, a solid gold Apple logo surrounded by 53 white diamonds, 135 grams of 24-carat gold and sapphire glass for the screen. As for the black diamond, the stone replaced the iPhone’s home button. Overall, the design took nine weeks to create.

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Previously, Hughes created an iPhone 4S Elite Gold phone priced at £6 million (about $9.18 million) that once held the title of world’s most expensive phone. However, with his latest creation, Hughes has broken the record yet again.

What do you think of the $15.3 million iPhone 5? Is it worth it? Tell us in the comments below.