What's inside a $20,000 cellphone?

Having broken apart an extremely expensive cellphone from Vertu, what does one find inside it?

"This is the one that I wasn't able to fix," writes S., who says he buys salvaged cellphones from insurers and repairs them for sale on eBay. "Although I've heard they improved recently, the first generation phone had the same guts as a $20 Nokia handset."

Previously:

Vertu Signature Dragon cellphone

Behold! Vertu's $200 USB cable