We can't say for sure, but we can show you some pictures with the two phones, head to head.
The Viewty Smart looks more elegant than the KM900, but that's probably because of the Arena's pink version.
Click for larger images:
LG GB130 should be available in other European countries as well, but we don't know yet when.



The new BL42 Chocolate features a touch sensitive nav-pad, a QVGA display, 5 Megapixel camera and 3G connectivity. LG will probably announce the phone in the next few months.
The features of LG BL40 will include: 800 x 345 pixels touchscreen display with multitouch input and a 21:9 aspect ratio, HSDPA, accelerometer, GPS, Wi-Fi, and a 5 Megapixel camera with Schneider Kreuznach optics and flash.
Also available starting July 14 is the LG Viewty Smart, which features an 8 Megapixel autofocus camera, Schneider Kreuznach optics, Wi-Fi and many other capabilities. The Viewty Smart is free with a two-year Telstra plan of at least 80 AUD per month, or 979 AUD outright.
LG GM730f -- the Australian version of GM730 -- will be launched by Telstra on July 28, via the Melbourne and Sydney T[life] stores. Starting August 11, the Windows Mobile 6.1 smartphone will be available in other channels too. Its price is similar to the one of LG Viewty Smart.
Source: Press release
Even if you're not from Australia or Singapore, you can check out the LG Application Store right away by visiting LGApplication.com

According to LG: "The GC990 or 'Louvre' mobile phone from LG, is a great example of the type of mobile technology innovation LG is developing. This is a concept model only however, and as such there are no confirmed plans to bring it to market. As we have further details on our camera-phone portfolio or other mobiles, LG will provide information on where and when they will be available to consumers."Source: GSM Arena
Source: lgblog.de
LG BL40 will be released sometime in August. It will be available through Vodafone in Europe, and probably through Telus in Canada. The US will likely get it as well, but we don't know via which carrier -- probably both AT&T and Verizon.