Korean handset manufacturer LG Electronics believes it needs to get in on the app store action to be a contender in a potentially lucrative new business.

The electronics firm, which currently occupies third place in the devices arena behind Nokia and Samsung, will push its own app store into a live beta phase on Tuesday, July 14.

The LG Application Store will make its debut in Asia Pacific, before being expanded to 24 countries worldwide over the year. The company expects to offer up to 2,000 applications by the end of 2009 with at least 100 programs available free of charge.

LG did not say whether it will participate in the revenue share model favoured by rival app stores such as Apple and Nokia, but it said that all submitted software will undergo rigorous quality testing before being made available for download.

At present however, the LG app store only appears to cater towards two handsets – the GM730 and the KS20.