LG Electronics, said it will release a new touch-screen mobile phone in the U.S. in order to compete with Apple's latest iPhone models. The LG-VX9700 model, nicknamed "Dare," will be launched in the U.S. through Verizon Wireless, and sell for US$199.99.

The release of the handset, equipped with a full touch-screen in the front and a built in 3.2 megapixel camera, will come a week ahead of the scheduled release of the third-generation (3G) iPhones to be serviced through AT&T Inc.

"The U.S. market is expected to stage a heated competition among high-end touch-screen phones in the second half of the year," said Hwang Kyung-joo, head of LG's U.S. mobile communications division.

LG has previously enjoyed success of its "Prada" touch-screen phones, developed through joint efforts between LG and Italian fashion company Prada, in Europe.