I4U News' Luigi Lugmayr reports that Verizon Wireless has announced new LG Chocolate VX8550 phones that are lighter and slimmer than previous versions, and that come in snazzy new Black Cherry and Blue Mint colors.

According to Engadget's Chris Ziegler, the new version also adds "something LG is calling 'Trace Motion' -- some sort of lighting that works in conjunction with the new nav wheel."

Still, as CrunchGear's Josh Goldman puts it, "Oh Verizon Wireless, this is how you fight back against the iPhone-and-AT&T-the-old-Cingular juggernaut? With two new LG Chocolate phones? For shame, Verizon, for shame..."

The phone will be available starting July 9 for $99, after a $50 mail-in rebate. There's an online user manual for the phones here (thanks to phone Arena).

More here from Pocket-lint ... more here from Digital Trends ... more here from Gizmodo ... and the press release is here.