LG Electronics will unveil a new ambitious smartphone dubbed the Optimus G next week to compete with Samsung Electronics' Galaxy Note 2 and Apple's iPhone 5.

LG made the new smartphone in collaboration with its subsidiary parts makers, such as LG Display, LG Innotek, and LG Chem.

The Optimus G is equipped with a 13 million-pixel camera with super-high resolution, and a large-capacity battery. LG hopes to regain its reputation as a global mobile phone giant with the model.