LG Electronics Inc. on Tuesday unveiled the price of its new dual-screen smartphone with a rotating form factor that will be released early next month in South Korea.

LG Wing will come with a price tag of 1,098,900 won ($940), making it the cheapest non-bar type smartphone in the domestic market, according to the tech firm.

The Wing, introduced last week, is highlighted by its two separate displays, with the main screen swiveling 90 degrees horizontally to reveal a secondary screen under it and creating a T-shape design.

The main screen will have a 6.8-inch OLED FullVision Display with a 20.5:9 aspect ratio. The 3.9-inch secondary display has a 1.15:1 aspect ratio.

The Wing is equipped with "gimbal motion camera" technology with six motion sensors, which gives a great level of stabilization especially when users shoot videos with the device.

LG said there will be no preorder reservations for the new device. Instead, the company will hold a promotion for the full month of October, which gives Wing buyers a 70 percent discount coupon when they have to replace the display of the phone within two years after purchase.

The Wing is the first product developed under LG's new smartphone initiative Explorer Project, which aims to deliver an "unexplored usability experience" with devices and services from its platform partners. (Yonhap)