The Korea Herald is reporting that Samsung Electronics is working on a project to team up with high-end fashion brand Armani to produce an designer "Armani phone".

Although the two companies have not yet signed a firm contract, apparently an anonymous Samsung spokesperson confirmed that "Yes, the plans are under consideration by the company".

The spokesperson was responding to rumours in another Korean new source, the Electronic Times, that stated:

"The company is going to make a new category called 'IT luxury products' jointly with Armani. The Armani phone will be launched in Europe in October and we plan to expand the brand to other businesses as well."

As well as a luxury mobile phone, the two companies are apparently considering producing a range of jointly branded television sets.

The Armani phone is said to be set to feature exclusive content and a unique user interface.

Samsung has previously teamed up with Band & Olufsen and Jasper Morrison (pictured), while competitor LG has seen success with their high-end Prada phone launched earlier this year.