Like the iPhone, it has a 2 megapixel camera, video and music player and completely buttonless interface. The phone is a bit smaller, but also slightly thicker, than the iPhone. And instead of a hard drive, it's got a slot for removable memory cards - something the iPhone lacks. It also has third-generation high-speed wireless network connectivity and Bluetooth capabilities.
However, it does not feature a Wi-Fi wireless connection, nor will it be able to play iTunes files.
The Prada phone will beat the iPhone to market, in Europe anyway, debuting next month for about $775. No word yet on when U.S. carriers will offer the phone - LG.