LG is taking on Apple’s iPhone with a new designer phone as part of their Black Label series in Q4, probably in time for the holidays. CEO Ahn Seung-kwon told Korea’s Yonhap News Agency that the company wants to be in 2nd place in the market by 2012. He also mentioned that their Prada phone line is so successful they are working on another and that they will have their own “extreme premium brand” like the Nokia Vertu.