LG Electronics' Optimus G was picked as the world's best smartphone by Consumer Reports in its latest survey. The report was released online Friday, and the Optimus G came out on top with two networks, AT&T and Sprint. It is the first time a handset by LG has been ranked No. 1 by the product-reviewing U.S. online magazine.

Among all the smartphones available on AT&T, the Optimus G received 79 points, putting it slightly ahead of Samsung Electronics' Galaxy S3 and Apple's iPhone 5, which earned 78 and 77, respectively. On the Sprint network, the three handsets were ranked in the same order, earning 77, 76, and 75 points, respectively. Consumer Reports highly appraised the LG handset's battery life and display quality.

LG Electronics marshaled all of its forces including subsidiaries like LG Display to come up with a market-leading new product as it stakes its claim to the smartphone era after a period of flagging fortunes. The Optimus G boasts a high-definition display and quad core processor among other top-of-the-line specifications.