The LG Prada phone will apparently launch on March 22nd if Mobile (a UK weekly trade magazine for the mobile industry) is correct.
Like the Apple iPhone, the LG Prada phone comes with a touchscreen interface. It is a tri-band GSM 900/1800/1900 phone with EDGE support that has a 3-inch display, a microSD slot, a 2MP camera with a Schneider-Kreuznach lens, Bluetooth 2.0 and media playback software (MP3/ACC/ACC+/WMA/RA audio and MPEG4/H.263/H.264 video formats). It is only about 12mm thick and measures 98.8mm x 54mm, making a bit smaller than the iPhone.
According to Gizmodo, the LG Prada could go for as low as $60 USD with a service plan when it hits European shores. Without a contract, the price will be closer to £390 (about $760 USD).
Source: Gizmodo