LG has just announced the world’s first 3GPP LTE chip for mobile phones and data cards. While this has little application to devices for the here and now, this will play a big role in mobile devices for the next couple of years as networks are gearing up for the next big thing after 3G/HSDPA.

Theoretically, LTE chips should provide 100Mps/50Mbps download/upload speeds. This new 13x13mm chip from LG, however, was only able to demonstrate 60Mbps and 20Mbps speeds. It’s not quite up to par with the expected download/upload rates, but it’s still impressive nonetheless easily beating current HSDPA speeds.

With both Bell and Telus already expressing their commitment in setting up an LTE-based network in Canada, this latest news will bold well with mobile phone manufacturers such as Ericsson 3G who is planning to come out with LTE-enabled devices in the future. With the current debate on which standard (WiMAX vs LTE) to support for the next-generation 4G networks, it might take some time for others to get on board with this latest initiative from LG.