Samsung Electronics said Tuesday that it is in discussions with luxury brand Giorgio Armani on jointly producing electronics items.

Sources close to the deal say Samsung and Armani have been in talks since early this year, with the process in the final stages of discussion. The Italian designer will not only provide the designs but will also actively participate in the development of new products.

"We are now in talks with Armani to work together in making premium goods such as mobile phones and televisions," a Samsung spokesperson said, declining to comment further.

Similar deals have been struck between LG and Prada, and Motorola and Dolce & Gabbana. In the past Samsung has created phones for luxury electronics maker, Bang and Olufsen.