South Korean smartphone maker LG had recently announced its Optimus G on AT&T and Sprint and rumors surrounding the LG Optimus G2's release have started surfacing.

Speculations suggest that the smartphone will be released in May next year and may clash with the release of Samsung's Galaxy S4 smartphone.

"A Korean publication that often leaks news about Samsung and LG's mobile plans, now claims that the LG Optimus G2 has been pulled ahead of schedule and will be released concurrently with the eventual Galaxy S IV about six months from now," reported Phone Arena.

Rumors indicate that the Optimus G2 will include a 5-inch Full HD LCD display with 1920 x 1080 pixels resolution and a pixel density of 440 pixels per inch (ppi). Along with a big display the Optimus G2 is supposed to include a powerful 2GHz quad-core Snapdragon Prime processor, making it one of the most powerful smartphones.

The smartphone may also get a third-generation LTE radio, which means that users will get faster browsing and downloading as well. No information about the battery of the device has been leaked, but it is expected that the smartphone will also feature a powerful battery to support third-generation LTE radio.

The leaks also indicate that the Optimus G2 will boast a 13-megapixel rear-facing camera. Icing on the cake is the operating system as speculations suggest that the Optimus G will pack the oft rumored Android 5.0 Key Lime Pie.

The storage capacity of the smartphone is not known but judging by the current trend, users will expect a minimum 16GB of on-board storage.

The Optimus G includes a 1.5GHz Snapdragon S4 Pro quad-core processor, a 4.7-inch IPS display with resolution of 1280 x 768, 32GB of internal storage, a 2100mAh battery and also an 8-megapixel rear-facing camera. If rumors of the Optimus G2 are to be believed then the specifications of the successor will be far better than the original Optimus G.

The competition in the smartphone industry is growing rapidly. With most big players announcing their top-end smartphones this year, we will have to wait and see what the smartphone makers bring to the table in 2013.