LG has taken the wraps off two new budget smartphones - called the K10 and K4 - as it looks to strengthen its presence in the global consumer market.

On Thursday, Jan. 28, LG introduced the Android-powered K4 and K10 smartphones, which form a part of its K-series. The smartphones will be made available globally in key markets in the coming weeks.

The K4 and K10 smartphones will be released in Europe and the Commonwealth of Independent States (CIS) this week, followed by the handsets' release in Asia, Latin America and the Middle East in the following weeks.

The K10 is currently available in LG's home country of South Korea. The company showed off the handset, along with the K7, at the 2016 CES. LG recently spilled the beans that it had a slew of smartphones in its K-series lineup: the K8, K7, K5 and K4.

On Jan. 26, the K4 smartphone was spotted online as listed on the company's Russian website, fueling speculations that an official announcement was in the anvil.

Now with LG announcing that it will begin retailing the affordable K4 and K10 smartphones soon, fans of the OEM will be waiting with bated breath. The K10 and K4 are targeted at budget-conscious buyers who are looking at value for money.

"Affordable mass-tier phones with advanced features are becoming more and more important. Our newest K Series is designed for our consumers to experience LG's premium design philosophy and optimized mobile experience across disparate smartphone categories," noted Juno Cho, president and CEO of LG Electronics Mobile Communications Company.

The LG K10 is the bigger of the two smartphones and sports a 5.3-inch HD In-cell Touch Display with a 1,280 x 720 pixel resolution. The device will house either an octa-core or quad-core processor, depending on the market it is headed for (LTE: 1.2 GHz or 1.3 GHz Quad-Core/1.14 GHz Octa-Core; 3G: 1.3 GHz Quad-Core).

The smartphone's RAM will be either 1 GB, 1.5 GB or 2 GB depending on the processor. The on-board storage memory options LG offers for the handset are 8 GB and 16 GB. Interestingly, even the camera sported by the LG K10 will depend on the market it is being sold to. The front-facing camera will either be 5 or 8 megapixels, whereas the primary camera will either be 13 or 8 megapixels.

The 8.8 mm (0.34 inches) slim K10 will house a 2,300 mAh battery and come with Android 5.1 Lollipop out of the box. The smartphone will be available in three hues: Indigo, Gold and White.

Smaller sibling LG K4 sports a 4.5-inch FWVGA display with a resolution of 854 x 480 pixels. The LTE-enabled smartphone will house a quad-core processor clocked at 1 GHz and 1 GB of RAM. It will have 8 GB of on-board storage and a 1,940 mAh battery.

The 8.9 mm (0.35 inches) slim handset has a 2-megapixel selfie camera with a Selfie Light and Gesture Shot support and a 5-megapixel primary camera.

The K4 will also come with Android 5.1 Lollipop out of the box. The smartphone will be available in two hues: Indigo and White.

The pricing for the LG K4 and the LG K10 have not been disclosed by the company. It is not known if the budget devices will be released in the United States and give company to the K7.

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