Positioning Reference Signal (PRS) is taken into consideration in one of the LTE release 9 features to determine the location of User Equipment (UE) based on radio access network information. Now you might be thinking that what is the necessity of PRS, if we have a GPS technology already built in smartphones and in other cellular equipment. Just think of it (GPS may not be accurate always and GPS services may not be available all around the geographical areas , also the accuracy of functioning GPS depends on money you have paid for the services and the quality of GPS device). The end user application of this PRS feature could be supporting location based services which can be navigation (direction to hotel etc.), emergency call etc. Follow the blog for more detail:
http://lte-question.blogspot.in/2014/09/PRSLTE.html
http://lte-question.blogspot.in/2014/09/PRSLTE.html