The LTE phone market is expected to grow 10-fold this year, CNET said Monday citing a report by market researcher Strategy Analytics. It predicts that 67 million LTE phones will be sold this year, compared to 6.8 million last year.

Apple will reportedly use LTE technology in the upcoming iPhone 5, which is expected to fuel the growth of the LTE phone market. Apple's New iPad also uses LTE technology.

Other manufacturers that are launching LTE phones and tablet PCs are Samsung Electronics, HTC, LG Electronics, Nokia, Pantech and Motorola.

But Strategy Analytics said expensive subscription schemes could hobble the growth of the market.