LG this evening planned to cement its hold on touchscreen phones with the KP500. Unlike LG’s normally high-end full touch devices, the new handset is designed to be inexpensive enough for those who would opt for a conventional phone without sacrificing some of the core touch features: it has the same three-inch touch display as the Prada, Viewty, and similar phones but a simpler design that has multiple color choices for the back, including brown and gold. LG implies a 5-megapixel camera and an accelerometer that auto-rotates the display.

The Korean designer doesn’t describe most other features in the launch, though it mentions quad-band GSM support that should bring the KP500 to North America. No mention is made of 3G or of storage, though LG in the past has depended primarily on microSD cards to handle media and data.

Europe receives the KP500 first and will see local carriers pick it up in late October. Other areas receive it later this year; North America isn’t mentioned but is possible given frequency support that would lend the device to AT&T or T-Mobile in the US and Rogers in Canada.