Dec 22, 2010 14:57 GMT  ·  By

The mobile market is advancing fast, maybe faster than some might have expected. One year ago, we had only one handset released with a 1GHz CPU on board, now we have one with a dual-core 1GHz processor inside

, and also the first smartphone to pack DDR2 memory, the Pantech Vega X.

This is an Android-based device launched this week in South Korea, the first such mobile phone to include DDR2 memory, supposedly able to deliver 1.5 times faster speeds than the DDR1 solution packed inside other devices does.

According to Pantech, the mobile phone would make an appearance on the South Korean market at the second- and third-largest mobile carriers, KT Corp. and LG U+ Corp.

The mobile phone maker claims that the new device can provide users with a much better experience than many handsets on the market today.

“When surfing the Internet, searching the Web, running applications or 3D games, its speed is so fast that it could threaten the existence of personal computers,” Pantech Vice President Lee Eung-joon told reporters, a recent article on YonhapNews reads.

The mobile phone is 4-inch wide, and should weigh in at 119.9 grams, making it one of the lightest Android-based devices in the world today.

Moreover, it seems that the handset vendor packed it with NFC (Near Field Communication) capabilities, which would make it suitable for mobile banking and mobile payment.

Other features of the new handset would include live TV streaming, along with another functionality greatly appreciated on the local market, namely a shortcut for taking self-portraits.

This smartphone is expected to help Pantech boost sales in South Korea. However, the company did not offer specific details on the possible availability of this device outside the country.

Pantech Co. is currently the third largest mobile phone maker in South Korea. The new Android-based Pantech Vega X might help it get in front of rival LG Electronics on the local market.