TAG Heuer and ModeLabs today announced plans to work together on a series of luxury mobile phones, following in the footsteps of Prada and Armani, among others. TAG's first phone is expected to be released in the second half of 2008.

"TAG Heuer is best known for its sports timing and is likely to tie the phone into its more recent watch designs, which emphasize the company's Formula 1 racing connection as well as an upscale focus on precision," Electronista notes.

And as Gizmodo's Sean Fallon observes (with a hilarious accompanying photo), "There is no word yet on any type of advertising campaign, but my guess is that somehow Tiger Woods will find a way to make even more money whoring it out to the masses..."

All I gotta say is if the phone looks anywhere near as cool as this, then count me in.

More here from TechWhack ... and more here from Reuters.