The handset is surrounded by a white gold line encrusted with a total of 138 brilliant cut diamonds of the best quality.
But the most prominent feature of the "Kings button" phone is its home button that features a rare 6.6 carat diamond.
Mr Aloisson, has a record of blurring the lines between gadget, art and jewellery.
In 1998 the controversial designer released his first diamond-encrusted mobile phone and earlier last year he launched a record-breaking $1.3 million dollar diamond crypto smart phone for Russian encrypting specialist company JSC Ancort.
Besides his "extravagant luxurious mobile phones" which he has been manufacturing for 8 years he also redesigns household objects.
The iPhone has capitalised on the sucess of the iconic iPod to become the most sought after of a new generation of smart phones.
However its competitors, including Microsoft's Zune, Google's G1 and Blackberry's Storm are raidly rolling out a new range of applications in a bid to close the gap.