With an arguably decent line of smartphones already available, not many would expect that LG is in need of help making new devices, but a report from the Korea Times suggests otherwise. According to the publication, LG is in talks with China's Huawei regarding setting up some kind of joint-business venture in order to "revive" its "smartphone business."

LG has vehemently denied these rumors, saying that the company has never been in talks with Huawei regarding any aspects of its business either now or in the past.

As many have suggested, it is somewhat interesting how LG has so insistently denied the rumors, many times we would see the canned PR response saying that the company in question doesn't comment on speculation.

With LG dropping below Huawei in the units shipped rankings over the past year and its lack of low cost entry level options, some kind of partnership with Huawei (a company that focuses on low cost smartphones) could make sense. While its latest offerings have reviewed well, LG doesn't have the entry level market pentration that a company like Huawei specializes in. Some have said that the entry level smartphone business is an important one for LG as that segment continues to grow internationally.