LG Electronics is set to be announced as the winner of a competition to produce mass market 3G handsets at the 3GSM conference next week.

Twelve mobile networks with a combined customer base of 620 million users have promised to sell the handset to their customers resulting in huge economies of scale and low prices.

The deal is a massive boost to LG who have previously created mainly high end handsets such as the LG Chocolate and the new Chocolate Premium.

The results of this deal have not been made public yet – our information comes from a respected source.

Update – The story has been confirmed by The Telegraph

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