Packed with an MP3 player, full touch-screen interface, 2.0 megapixel camera, and video playback features, many are arguing the LG Prada Phone is a true iPhone killer.

We say: not so fast.

Before you head off and purchase this $800 device, consider this: the Prada Phone gets a measly three hours of talk time, and doesn’t even come equipped with a hard drive. Instead, users must use a micro-SD card (sold separately) to store media files.

So no, although the LG Prada KE850 Phone sports the high-end fashion label and a stunning 3.0″ touch screen interface, it doesn’t even come close to being an iPhone killer. It gets less than half the battery life of the iPhone, costs $200 more, and lacks a hard drive to store files.

Save your money and wait for the iPhone version 2.0. We all know it’ll be amazing.