With a bevy of devices vying for the spotlight at the ongoing MWC 2013 in Barcelona, Korea-based LG is pulling out all stops to stay competitive in the hotly contested smartphone space.

LG announced on Sunday, Feb. 24 its "four-tier strategy" that focuses on its Optimus series smartphones: G, Vu, F, and LII, all of which feature LG's next-gen technologies.

"With an initial target to sell 10 million smartphone each quarter and double sales of LTE devices in 2013, this is LG's most ambitious smartphone strategy to date. Flagship models from the G and Vu: series will target the premium segment while the F and L series will be positioned as more mass audience smartphones for 4G LTE and the 3G markets, respectively," noted the LG press release.

With the four new lines, LG is looking to offer a variety of phones across all segments and price points. Consumers will be familiar with the high-end Optimus G and Optimus Vu series, whereas the F and LII series are the new additions that fill the middle and low-end spectrums, respectively.

The Optimus F5 and Optimus F7 phones, part of the F series line-up have been specially designed for consumers who are transitioning from 3G to 4G LTE networks. The launch of this series will aid the Korean company in establishing a strong foothold in the rapidly growing 4G LTE space.

The Optimus LII series, the company asserts, is "a continuation of unique design heritage" as the devices in this series imbue the "refined sensibilities of LG's L-Style design philosophy." The Optimus L3II, Optimus L5II and Optimus L7II are a part of the new L-series line-up.

With a plethora of new smartphones on offer, LG's portfolio of devices for 2013 cater to every segment and seem to be gearing up to give stiff competition to Samsung. We'll have to wait and see how the "four-tier strategy" shapes up for the company in the long term.