A stylish new phone from Samsung, powered by Windows Mobile 6.5, was unveiled by Giorgio Armani, Microsoft CEO Steve Ballmer, and Won Pyo Hong of Samsung Mobile, during a joint press release in Milan, Italy.

The new 700-euro ($1,032) mobile phone is powered by Windows Mobile 6.5 and has both a touch screen and a key pad. It also includes a video player and GPS navigation, as well as bronze detailing "which coordinates perfectly with Giorgio Armani suits," according to a statement.

The smartphone is the third phone Armani has designed for Samsung.