LG Electronics said Tuesday it has developed the world's first handset modem chip for next-generation mobile telecommunication.

The company's Long Term Evolution (LTE) modem chip supports wireless download speeds of 100 megabits per second, enabling users to download a 700-megabit feature-length film in just one minute.

LTE services are expected to be in service by 2010.

LG said it will stake its claim in the market by introducing the world's first mobile phone using the chip.