Mobile phone manufacturers are constantly looking at new hardware to bring out to try and tempt consumers they need a new handset, and today we have news of a new LG quad core smartphone with a 10MP camera in development.

According to an article over at TNW LG has confirmed it is currently working on a new handset that will be the first device from the company to feature a quad core processor and to feature a camera with a ten megapixel sensor.

LG has just released its first quad core smartphone in the shape of the Optimus 4X LTE, but is already looking to follow that up with a device that beats the eight megapixel shooter on the Optimus. It is believed that chairman of LG Electronics, Koo Bon-moo, is helping with the development of the unnamed handset. The move is being put down to his dissatisfaction of the company’s mobile arm not taking advantage of technology produced by other parts of LG.

Some of the biggest players in the smartphone market including the likes of Apple, use components from LG Display, LG Innotek, and LG Chem during 2011, and the LG Electronics chief believes the company is not utilising the technology.

The company has seen some success in other areas of its business such as its TV range, but the mobile arm has struggled to gain market share in a same way that rivals HTC and Samsung has done. LG has claimed to have sold three million LTE compatible handsets around the world, and is saying that it plans to expand sales of its LTE range of handsets to ten new countries.

This compares to Samsung that claims to have sold five million LTE based handsets in Korea alone, while the Galaxy S3 is expected to give the current and next iPhone a run for its money. What would you like the next quad core smartphone from LG to be called?