Verizon has added a new LG handset to their website, more specifically the entry-level LG VX5500. After signing a 2-year contract it only costs $50, and it is only available in one color - gray.

The basic cellphone features a VGA camera with self-timer, and a default resolution of 640×480 pixels. You can add some color effects (aqua, sepia, black & white) to the photos, and pick a white balance that better suits the image. The bluetooth wireless connection supports headsets, hands-free function, and phonebook access.

Other features on the LG VX5500 include a speakerphone, mobile web + chat + email, and voicemail.

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