Mumbai: LG Electronics on Monday launched its new flagship smartphone LG G3. The phone is priced at Rs 47,990 for 16GB and Rs 50,990 for 32GB and would be available in three colours.

"With G3, LG has truly broken technological grounds and we aim to spearhead our vision of 10 per cent smartphone market share by end of 2014 for LG's mobile division in India," LG Electronics India Managing Director Soon Kwon said.

The phone is to be endorsed by Bollywood megastar Amitabh Bachchan, the company said.

The South Korean company will release 15,000 limited edition G3 smartphones with the actor's signature in the Indian market.--PTI