Remember that “affordable” touchscreen LG had in the works? As it makes the strides through the development process, it’s been granted a name a bit more consumer friendly than the model number. Further proving that the mobile industry name tank is running low, the KP500 has been redubbed the “LG Cookie”. Seriously. The Cookie.

The main push behind this product was that it’d be affordable. According to GSMArena, “affordable” works out to about 170 euro (about 229 USD). That’s before taxes – but it’s also before subsidies. If subsidies can get this thing in the $100-$150 range, they might just have a hit. Anything more than that, and it might not be competitive; while they’ve squeezed a 3-inch TFT touchscreen and a 3 megapixel camera into its 11.9mm thick body, the Cookie is missing 3G and the video functionality (both recording and playback) is looking to be a bit lackluster.