SEOUL (Reuters) - LG Electronics Inc. (066570.KS), the world's number four mobile phone maker, could consider lower-end models and outsourcing the production of some handsets, the chief of its mobile phone unit said on Wednesday.

"Competition will be very fierce next year," Park Mun-hwa, chief executive of LG's cellphone business. "We can use various strategies. In the process, lower-cost models or contract manufacturing could be considered."