LG has shown a series of new smartphones during this year's Mobile World Congress in Barcelona, but the smartphone maker is not done with its products for this year.

Reports on the Web suggest that LG is going to launch a 4G LTE compatible smartphone by later this year, and the device is reportedly quite impressive as of the LG standards.

The smartphone will be placed under LG's Optimus LTE series, and the name, most probably, will be LG Optimus LTE 3.

According to a report from UnwiredView, the phone will be launched in South Korea with a model number LG F260S via SK Telecom.

The smartphone will be LG's first phone in this series to run Android 4.1.2 Jelly Bean out of the box. The device is going to feature a 1280x720 HD display; however, the picture suggests that the display is somewhere around 4.5-4.7 inch.

It is quite possible that the phone comes with a 4.7-inch display as LG's Optimus F7 is also of the same size.

The second and biggest similarity Optimus LTE 3 and Optimus F7 have is the processor. Optimus LTE 3 is said to be powered by Qualcomm's 1.5 GHz dual-core Snapdragon S4 processor. Optimus F7 too comes with the same processor.

Though the RAM of the rumored device have not been disclose in any of the reports so far, we assume the LTE 3 is going to come with a 2 GB RAM, just like Optimus F7.

The phone is also said to be featuring 2,540 mAh battery that is an improved version of Optimus LTE 2's battery.

When we compare the rumored specification of Optimus LTE 3 with its predecessor, no major changes can be found.

LG Optimus LTE 2 was also powered by the same processor, Qualcomm's Snapdragon S4 with a 2 GB RAM, and the specifications of LTE 3 also suggest the same.

The screen size and quality also don't show any difference in both the devices.

If we leave battery and the operating system, both the phones are almost of the same specification.

Anyway, none of the specifications or even the device name has been confirmed officially. So we can take all the points with pinch of salt, and can hope that LG delivers a more advanced and improved device as Optimus LTE 3.