LG Elec to Provide Verizon Wireless with Camera Phones Jul 10, 2003

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South Korea's LG Electronics Inc. will provide mobile phones with cameras based on CDMA2000 1X technology to Verizon Wireless (Bedminster, NJ, U.S.), the company said Thursday.

The company didn't disclose the financial terms of the deal.

LG Electronics, a leading home appliance maker in South Korea and the number two mobile handset company, said it will offer for the first time in the U.S. its LG-VX6000 mobile phone with an embedded camera and picture messaging services.

LG said the agreement with Verizon will further the company's plans to expand in the U.S. CDMA market. LG is targeting more than 20 percent of the U.S. CDMA market. Verizon has 33.3 million wireless customers.

Verizon said the phones will be offered at U.S. $149.99 after a $50 mail-in rebate with a 2-year customer agreement.

In addition to the U.S., LG exports its mobile handsets to Europe, China, and Southeast Asia. (Dow Jones)

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