In this paper, we examined why LG Electronics ranked in global top 3 market share through the launch of Chocolate phone and Prada phone. Especially, to find out how ‘Prada Phone by LG’ could be a success by co-branding with high fashioned Prada company in the premium handset market world-wide and to give implication to become top tier market share in Smartphone era. We found some evidences that the factors of success of Prada phone was not merely in cobrand strategy effects with Prada company, but also in differentiated luxury marketing strategies and efforts by LG Electronics with well established STP strategy and marketing 4P mixes. In case of price differentiation, LG Electronics maintain same price policy during 2007 from its launch in March. For the place strategy, even though LG's brand premium was very low in western Europe, LG decided to launch first in Europe and not in other regions which has better market performance like USA, Latin America. TV commercial, which is necessary in premium handset promotion was never used for the launch of Prada phone. Full touch color display with 3 inches large display based on LG's High technology was enabled in Prada phone as world first in the market.