News Summary: LG unveils new flagship smartphone

The Associated Press

REVIVAL?: LG Electronics will launch the Optimus G smartphone next week in South Korea, pinning high hopes on the new Android device to help revive its loss-making mobile business.

AVAILABILITY: The Optimus G will go on sale in Japan next month and in the U.S. in November.

PAST TROUBLES: Previous Optimus smartphones have failed to make a mark in the fastest-growing segment of the mobile phone market. LG's mobile division posted losses of nearly 1 trillion won ($895 million) in 2010 and 2011 combined.