We already know that LG and Prada plan to launch a new premium smartphone, the LG Prada K2, but the phone has yet to be confirmed by the manufacturer. Photos and videos showing the Prada K2 leaked more than a month ago, along with the phone’s hardware and software specifications. If anyone still had any doubt that LG and Prada intend to launch a new device soon, then their doubts will be a thing of the past as the companies announced an exclusive partnership to bring a new phone in early 2012. In fact, LG and Prada have renewed their long time partnership, which began in 2006 and resulted in two premium phones being introduced in 2007 and 2008. “The partnership between Prada and LG has always been characterized by an innovative approach and uncompromised quality of style, design and breakthrough technology. We were therefore delighted to cooperate again with LG in the development of the latest creation of the mobile communication industry,” said Mr. Patrizio Bertelli, CEO of PRADA Group. Under agreement, LG and Prada will develop the “PRADA phone by LG 3.0” that is expected to be launched sometime in Q1 2012. Even though the companies do not mention the Prada K2 name anywhere in the press release, there’s a high chance that this will be the third premium phone released by LG and Prada. The phone is expected to be delivered with a stunning 4.3-inch NOVA display, an 8-megapixel photo snapper, a 1.3-megapixel front facing camera for video calls, as well as HSPA+ support. Although the phone is said to be powered by Android 2.3 Gingerbread, hopefully, LG will revise the phone’s specs sheet and replace Gingerbread with Ice Cream Sandwich.