This is not exactly a confirmed news coming from LG but Digitimes has reported this matter here: Samsung, LG to enhance presence in global smartphone market in 2011, say Taiwan makers
LG has seen some decent amount of success in the smartphone industry with its Optimus One. Smartphone industry it expected to have tremendous growth in the next 4-5 years as most people in the world still do not own one. In the next two years, huge growth will come in rich countries like USA, Japan, UK etc. After that, the growth will go to countries like China and India.
So, LG has perhaps taken the right decision to focus on this market. Digitimes also stated that the price of these models will be in the range of $150-400. These smartphones from LG would run on both Android and Windows7 Phone platforms.
2011 will be the year of Android and most probably, Android will become the largest OS for smartphones in every corner of the world.