A "party mode" allows you to use your iOS or Android device to have the bulbs flash in different colors in time to any music that is playing. That feature is available right now only to those sporting a device powered by Android 4.3 or higher. Another feature allows the bulbs to flash whenever your smartphone rings.
LG is planning on releasing the bulbs in South Korea over the next few days, priced at 35,000 won ($32 USD). No word yet on when, or if, the smart bulbs will be coming to the states.
LG's new smart bulb lasts up to 10 years and works with iOS and Android devices
source: LG (translated) via GSMArena, AndroidCentral