As the world's No. 1 mobile phone manufacturer, one would expect that Nokia knows a thing or two about what people want and what people need. Well, given the option, Nokia's latest recently definitely does not fall into the latter category.

The company recently unveiled an ultra-high-end smartphone dubbed the Nokia Oro. For those who haven't brushed up on their Italian recently, "oro" means "gold," which should give an idea of what the smartphone is all about.

While many smartphones boast features like dual-camera setups, Adobe Flash support and dual-core processors, the Nokia Oro is notable for its 18-carat gold plating, a sapphire crystal home key and being lined with leather where most smartphones would have plastic.

All in all, the Oro is a typical Symbian-based smartphone with a 3.5-inch display, an 8-megapixel camera and 3G and Wi-Fi connectivity. But for those looking to spend some extra bread on gimmicks, the $1,133 Oro may turn some heads.

Though Nokia is the top mobile device maker in the world, it has seen its market share slip drastically in recent years. According to a recent Canalys report, Nokia's market share slid from 39 percent a year ago to 24 percent in the first quarter of 2011.