LG released a dual-sim GSM only phone. So from the start there is something bad with this phone because it has no 3g connectivity.

LG GX500 Specs

It has a 3″ 240X400px display with touch-screen. It is well equipped for a dual-sim and it also has support for WiFi. As for the design, it looks like a normal touch screen phone. Also it is not that big, it only has 109 x 53 x 13mm and weight about 118 grams.

LG GX500 Features

As applications, Lg said that it has a lot of network support applications for fast connection with the social networking. Talking about applications, in the multi-media section you have a 3mpx camera with QVGA recording mode. You also have a FM radio and a multimedia player that will come in handy. Talking about social networking, the phone uses Opera mini as web-browser and it also includes a e-mail client.

The phone is powered by a 1500 mAh battery that can power your phone for 6 hours talk time and 16 hours stand by.
As far as I know the phone will be released in Eastern Europe next month.