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LG Electronics recently announced that it has independently developed the first handset (user equipment) modem chip based on 3GPP Long Term Evolution (LTE)technology standards. The modem chip can theoretically support wireless download speeds of 100Mbps (megabits per second) and upload speeds of 50Mbps. This represents a significant step toward creating a market-ready 4G phone.

The Modem Chip is the most crucial component required to create a viable 4G handset with LTE technology, the leading candidate to become the fourth generation mobile phone technology standard.

Source: http://www.lge.com/about/press_release/detail/21031_1.jhtml