South Korean electronics company LG is speculated to be working on a 5.5-inch display smartphone.

The company recently launched its Optimus L9 in India a week ago. The smartphone features a 4.7-inch IPS display and runs on Android 4.0.4 OS (Ice Cream Sandwich).

According to Korean website Asiae, LG is planning to release Optimus G2, which is similar to specifications of Samsung Galaxy Note, such as the 5.5-inch display.

LG's previous G-Series smartphone, Optimus G, was unveiled just a few months back. It featured a 4.7-inch display and is powered by Snapdragon S4 Pro 1.5 GHz quad-core processor.

Optimus G2 is expected to feature a more powerful quad-core 2.0/2.5 GHz Krait processor, at least 2GB RAM and a 13-megapixel camera. Rumours are afloat that the phone, which is anticipated to be launched by the end of the second quarter of 2013, will likely come on board with Android 5.0 OS, reported NDTV.

Its rival Samsung is also in the news after latest reports stated that its its speculated Galaxy S4 will be showcased at the upcoming CES (Consumer Electronics Show) in January. Speculations rose after the release of a teaser video by Samsung with a tag 'Get Ready'. The video did not feature any device but has created a lot of buzz around the Las Vegas CES event.

Taiwanese tablet and smartphone maker HTC also released a 5.0-inch display 'Butterfly' smartphone.

Many technology market watchers predict that the year 2013 will be ruled by big screen smartphones, mostly of the phablet variety.