Prada and LG Electronics have announced its renewed mobile phone partnership at a signing ceremony in Seoul, Korea. The companies will develop the Prada phone by LG 3.0 which is expected to hit the market in early 2012.

Photo: The teaser image of Prada phone by LG 3.0

Prada will be an exclusive LG mobile phone partner as it was in previous years when two premium Prada mobile phones were introduced in 2007 and 2008.

«Our working relationship with Prada is unique in its longevity and success, something no other phone company and luxury brand have been able to replicate,» said Dr. Jong-seok Park, President and CEO of LG Electronics Mobile Communications Company. «Having successfully launched two PRADA phones by LG, we look forward to collaborating further to develop premium handsets with a strong identity and the most sophisticated style.»

The first Prada phone by LG 1.0, which was the world’s first touchscreen mobile phone, proved to be successful and was sold over one million units. The handset featured high-end technology and gorgeous Prada design. Now the Prada phone by LG 1.0 is a part of the permanent collection in New York City’s Museum of Modern Art (MoMA) and the Museum of Contemporary Art (MOCA) in Shanghai.

The 2.0 phone featured an innovative mobile experience through its unprecedented watch with Link technology, which allowed for easy access to caller ID, SMS text messages, call history, call block and two-way alarm notification.

Rumor has it that the 3.0 phone will feature Android 2.3, a 4.3-inch display, and 21 Mbps HSPA+ speeds in a 9mm thin frame.

In the beginning of this year, LG collaborated with composer Ennio Morricone to create exclusive ringtones for LG phones.