The unique relationship between developer LG and fashion house Prada is certainly a strange one, and its most recent project is the upcoming LG Prada 3.0 smartphone.

The pairing of the two brands first started in 2007, when they released the LG Prada 1.0, a hugely successful “designer” phone, which sold over 1 million units. It was such a beauty and models are now on permanent display in the New York City Museum of Modern Art and the Museum of Contemporary Art in Shanghai.

What most people don’t know is that this original fashion phone was also the first mobile phone ever made with a touch screen. The second LG Prada followed in 2008, and now 3.0 is tipped for a January launch.

Whilst many fashion phones sacrifice tech in favour of looking good, the LG Prada 3.0 is both aesthetically and technologically exquisite, easily rivalling some of the top smartphones currently on the market. It includes a 1.0 GHz dual core processor, a generous 4.3 inch NOVA screen, an 8 megapixel camera and 8GB of storage memory, to name but a few of its great features.

Initially it will run Android Gingerbread but that doesn’t mean it’ll miss out on Ice Cream Sandwich: the Android team have announced that the phone already has a scheduled OS update.

Physically, the phone is the same thinness as the Samsung Galaxy S II at only 8.5mm, but looks even slimmer thanks to LG’s signature Floating Mass Technology. This uses optic illusion to enhance the thin appearance. Prada has also marked the device with its signature; the Saffiona pattern with appears on its reverse.

Rumoured to cost upwards of £500, the LG Prada 3.0 is an expensive treat for 2012, made even more so by the LG/Prada designed range of accessories such as a docking station, Bluetooth headset, and even a matching Prada bag.