The world is full of amazing technology – technology that keeps people safe, entertained, and educated. But some products, with their exorbitant prices and poor performance or practicality, have become infamous as some of the worst tech deals of all time. They contribute nothing to the world, but are treated as cash cows for the super-rich (or the super-dumb).
Here are some gadgets that have been making waves for all the wrong reasons.
1. Falcon Supernova iPhone 6 Pink Diamond – $48.5 million
Dubbed the world’s most expensive phone in 2022 and which it still holds that title, the Falcon Supernova iPhone 6 Pink Diamond edition certainly grabs attention, but it’s its price that catches your eye more than its features.
Sold by American luxury brand Falcon, this iPhone model features a giant pink diamond set on the back. Additionally, a shell made of platinum, 24-carat gold and rose gold covers the bottom of the standard iPhone 6. Indian businesswoman Nita Ambani, known for her links with the Mumbai Indians IPL team, has been spotted using the device. But despite the luxury brand, the phone’s features clearly don’t live up to its astronomical price tag, making it a classic example of flashiness over practicality.
2. Voodoo Envy 133 – starting at $2,099
In 2008, VoodooPC (later acquired by Hewlett-Packard and recently sponsored the Ferrari F1 team) introduced the Voodoo Envy 133, an ultra-portable laptop that stood out for its slim design and high price. Competing directly with the MacBook Air, it featured the company’s proprietary “Voodoo IOS” for fast boot-up times and a variety of ports, including USB, eSATA, and HDMI.
Despite these features, the Envy 133 was criticized for its short battery life of just three hours and ergonomic issues, such as the trackpad being difficult to find in dim light. Discontinued within a year of its release, the Envy 133 was considered a boycott in the tech industry due to its high price and limited market appeal.
3. Bang & Olufsen BeoVision Avant TV – Starting at $8,495
Known for its striking design and high-quality sound system, the Bang & Olufsen BeoVision Avant TV doesn’t live up to expectations in terms of smart TV features and modern connectivity options. It has a 4K resolution screen and a motorized stand that automatically adjusts to the best viewing angle, but it lacks a comprehensive color management system and the latest HDMI standards that are common even in mid-priced TVs.
With a starting price of around $8,500, consumers paid a premium for the design rather than the technology inside, which severely limited its mass-market appeal, and you can imagine what happened.
4. Mobiad Grand Touch Executive – Price not disclosed
The Mobiado Grand Touch Executive, like most of the products on this list, is a premium smartphone that prioritizes looks over technical specifications. Made from unique materials like marble, granite, and sapphire crystal, its design definitely stands out.
But with a 4.65″ S-AMOLED display, just a 5MP camera, and basic connectivity, the specs are clearly subpar. The Grand Touch Executive targets consumers who value luxury over real value, and addresses a market that most sensible people know very little about. The company hasn’t released a price, so all we know is that it’s very expensive.
5. AudioQuest Diamond 1m Braided HDMI Cable – Over $1,000
Though only one meter long, the AudioQuest Diamond HDMI Cable represents the very edge of this market. It features high-end elements such as Perfect-Surface Silver conductors, known for their superior conductivity and “colorless” sonic representation. These cables aim to transmit audio and visual signals without any distortion that affects their purity. They also incorporate a Dielectric Bias System designed to minimize signal degradation due to insulation interactions, ensuring that the signal passing through the cable is unaltered.
Additionally, the cable features a carbon-based triple-layer noise dissipation system that is said to insulate the signal from RF interference, improving both audio and video quality.
Despite all these impressive terms and technologies, the justification for a cost of over $1,000 for just one meter remains highly questionable. Standard HDMI cables are much cheaper, costing around $3, but support high-speed data capabilities and offer comparable performance. This makes the AudioQuest Diamond HDMI Cable a classic example of overpriced, boring technology whose price overshadows the actual utility and value it offers to the average consumer.
While these products are intriguing, they also serve as cautionary tales about form over function and the true cost of luxury in the tech industry.
The debt trap of buying high-end technology
Sure, these products are intriguing, and it’s fun to poke fun at the stupidity of those who buy them, but this is a cautionary tale for anyone who wants to spend more money to get the latest and greatest tech.
The allure of high-end technology products, promising high performance and status, can tempt individuals to spend beyond their means. This trend has led to increasing consumer debt as individuals finance their purchases with credit cards and installment payments.
The desire to own the finest gadgets, combined with aggressive marketing and easy access to credit, often results in individuals accumulating debt that is difficult to manage. This is particularly concerning in a rapidly evolving technology market where today’s luxury devices can quickly become tomorrow’s outdated models, forcing even more expensive upgrades.
For those struggling with debt from these purchases, it’s important to seek professional help. Services like Debt Relief Canada offer customized solutions to help manage and reduce your debt. These services offer counselling and debt management plans to restructure existing debt, lower monthly payments and provide financial planning guidance to prevent future debt. If your technology spending is causing chaos in your finances, it might be helpful to consider these services.
