LG has a new device in store, as the company just unveiled a new stylus-toting phablet called the LG G Stylo.

Although LG has been extensively teasing its upcoming LG G4 flagship smartphone recently, the company has decided to unveil another device in the meantime, introducing the new LG G Stylo phablet.

Recent rumors indicated that the LG G4 flagship would have a stylus-toting variant with high-end specs and features, aiming to compete with Samsung's top-notch Galaxy Note 4, but at least for now this is not the case. The new LG G Stylo may come with a stylus, but its specifications are by no means high-end.

More specifically, the budget-friendly LG G Stylo comes with a 5.7-inch HD display, meaning a resolution of 1280 x 720 pixels and a low pixel density of 258 ppi. Under the hood, the phablet packs a 64-bit quad-core Snapdragon 410 processor clocked at 1.2GHz, paired with just 1.5GB of RAM. Other specs include 8GB of internal storage capacity, a microSD card slot for additional memory, an 8-megapixel rear camera, a 5-megapixel front shooter, and a 3,000 mAh removable battery. Connectivity options include Wi-Fi 802.11 a/b/g/n, Bluetooth 4.1, NFC, A-GPS, and LTE. On the software side, the device will ship with Android 5.0 Lollipop out of the box.

In other words, the LG G Stylo is a mid-range device at best, suggesting that it should come with a budget-friendly price tag, but it doesn't have what it takes to go up against the Samsung Galaxy Note 4.

LG currently announced its LG G Stylo for Korea, but has yet to offer exact launch and pricing details. According to the company, the "Stylo" moniker stands for "stylus," as one would imagine, but also for "style."

It remains unclear at this point whether LG also has a high-end stylus-toting device en route, such as the rumored LG G4 Note, or whether this mid-range LG G Stylo is all we get.

The company is expected to provide more information regarding the LG G Stylo's global release, as well as price point, at a later date. For now, the device is expected to come at an affordable price point and be available in titanium or white color options. We'll keep you up to date as soon as the company announces more details, so stay tuned.