Claiming a step forward in the commercialization of the next generation of Internet capable handsets, LG Electronics Inc. revealed a modem chip that uses technology standard called Long Term Evolution (LTE), and has a download speed eight times that of the fastest mobile phones currently on the market.

The still-developing fourth generation technology is vying with the rival WiMax standard to steer in super-fast Web browsing and downloads over mobile phones and other wireless devices. LG said that mobile carriers have built test networks and the first mobile phones using the technology will probably be available to consumers in 2010.

The South Korean company also said that other companies - such as Qualcomm Inc., Vodafone Group PLC, Verizon Wireless and Japan's KDDI Corp - are supporting and contributing to the development of the LTE standard.

LG's chief technology officer, Paik Woo-hyun, told reporters: "Now that LG has developed and tested the first 4G handset modem, a commercially viable LTE handset is on the horizon."

The capabilities of LG's chip are far superior to modern 3G handsets, which can get a maximum of 7.6 Mbps download speed use a different technology, known as HSDPA. LG said it achieved wireless download speeds of 60 megabits per second and upload speeds of 20 Mbps, and added that with the technology a 700 megabit movie file can be downloaded in less than one minute at speeds of 100 Mbps.

Moreover, a handset with LG's chip and an appropriate network opens up multiple possibilities for consumers - including quick Web browsing, and the ability to stream high-definition movies without needing a buffer, which ensures smooth play.