LG hopes its next flagship smartphone will get the company back into the handset game after its disappointing run of late.

The company released a video today, teasing a smartphone with "the second generation" of quad-core processors, or Qualcomm's Snapdragon S4 chip with an Adreno 320 graphics processor.The phone will likely carry an Optimus name when it launches, which could be within the next few months. LG's high-end Android smartphones use the Optimus name, before being renamed or rebranded in international markets.

While rival Samsung Electronics has surged to become the top smartphone and Android vendor, LG continues to struggle to find relevance in the market. The company has vowed to create more LTE smartphones in a bid to win back market share.

Beyond Samsung, LG is competing against several rivals looking to make a comeback in phones, from Sony to HTC. Samsung's new phone will likely be unveiled around the time or after the next iPhone and Windows 8 phones are announced, as well as another Motorola Razr smartphone.

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