LG Goes Android With Optimus Q

LG Electronics has been riding on the success of its “Chocolate” slider phone for years, but since the device’s 2005 launch, it’s struggled to come up with a popular follow-up.

Now the South Korean cellphone maker, the world’s third-largest behind Nokia and Samsung, is betting on a new Android-powered smartphone called Optimus Q.

Its operating profit margin from its handset business fell to 0.9 percent in the first quarter ended March 31, from 6.4 percent a year earlier.

The Optimus Q features a 1-gigahertz CPU and a 3.5-inch high definition screen. It has a 5-megapixel camera and its memory storage capacity can be increased to 32 gigabytes. It retails for around $758 in South Korea.

But with plenty of other smartphone options in the market from Apple (AAPL), Nokia (NOK), Samsung and Research in Motion (RIMM), does LG’s new phone have a chance to compete?

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