Smartphone manufacturing giant, LG electronics has upgraded its flagship smartphone model with a new faster chip along with a longer battery life. The upgradation has been made with a hope that it would regain its market in front of the other rivals in the market.

The smartphone Optimus LTE II will be launched by all the three mobile carriers in South Korea this week. The smartphone costs 935,000 won without subsidies. Park Jong-seok the president of LG Mobile business said on May 17, 2012 that the new mobile is exclusively for the south Korean users, but similar smartphones will be released overseas.

The mobile manufacturer has been facing losses in the mobile business since the year 2010 and has now geared up to introduce faster mobile network with the network called LTE across the globe so as to boost the smartphone sales. The mobile carriers in Japan, South Korea, North America and Europe have begun the services on the latest wireless network so as to lure more customers who seek quicker downloads of videos smooth web surfing.

The new Optimus phone with a 2 gigabyte memory capacity can run multiple applications at the same time at a faster rate.