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South Korean electronics major LG on Friday (19 July) officially announced that its upcoming Optimus G successor would be named as G2.

Apart from naming the smartphone as 'G2', LG has also confirmed that the company's premium smartphone series will no long carry the name-tag - 'Optimus' in the future. The company has also decided to rebrand LG's 4:3 display based handset series 'Optimus Vu' as just 'Vu'.

"Our vision is to make LG's newest G devices synonymous with excellence, raising the bar even further for the ultimate in user experience," said Jong-seok Park, president and CEO of the LG Electronics Mobile Communications Company.

"The new G2 will build upon the excellent reputation established by previous G Series products," he added.

LG is pegged to unveil the new flagship phone G2 in New York City on 7 August. Speculations are rife that the upcoming handset will sport a 5.2-inch Full HD display with 1920x1080p resolution and run on Android mobile OS v4.2 Jelly Bean with 3GB RAM.

Under the hood, it is expected to arrive with the new Qualcomm Snapdragon 800 series processor with CPU speed of 2.3GHz and come paired with Adreno 330 graphics engine. Other features include LTE-Advanced network for high-quality audio and video call connectivity as well as support for twice the speed of data transfer rate than the current 4G network.

Camera wise, the Optimus G successor is expected to sport a 13.0-megapixel main camera with OIS (Optical Image Stabilization) and a 2.1-megapixel secondary camera.

The G2 smartphone is rumoured to hit global markets in September, co-incidentally the very same month when LG's South Korean counterpart Samsung is also pegged to pull the wraps off the new-generation Galaxy Note 3 at the 'Samsung Unpacked' event in Berlin on 4 September.

Rumoured Specifications of LG G2:

Model LG G2
Display 5.2-inch Full HD screen with 1920x1080p display resolution
OS Android v4.2 Jelly Bean OS
Processor 2.3 GHz Qualcomm Snapdragon 800 series processor
GPU Adreno 330 graphics engine
Camera Main: 13.0-megapixel camera with OIS (Optical Image Stabilization)Front: 2.1-megapixel camera 
Network Expected come with next generation Long Term Evolution (LTE-Advanced) network support