"With G3, LG has truly broken technological grounds and we aim to spearhead our vision of 10 percent smartphone market share by end of 2014 for LG's mobile division in India," LG Electronics India Managing Director Soon Kwon said.

The phone has to be endorsed by Bollywood megastar Amitabh Bachchan, the company said.

The South Korean company will release 15,000 limited edition G3 smartphones with the actor's signature in the Indian market.

Highlights of the new G3:

• 5.5-inch Quad HD display with 538ppi with four times the resolution of HD and al-most two times higher resolution than a Full HD display

• 13MP OIS+ (Optical Image Stabilizer Plus) camera with a revolutionary Laser Auto Focus that can shoot stunningly sharp images in a fraction of the time required by conventional phone cameras

• Polished metallic skin on the rear cover that is lightweight, fingerprint-proof and most of all, beautiful

•Floating Arc form factor that feels incredibly comfortable in one hand and incorporates the innovative design heritage of the Rear Key

•Redesigned graphic user interface (GUI) consistent with the Simple is the New Smart concept of the G3