LG and Verizon have just announced their latest LTE Android 2.3 Gingerbread-powered smartphone: the LG Spectrum. Most impressive of all its reported specs would be the 720p display, measuring in at 4.5-inches.

The only phone thus far that is able to tout such an impressive display would be the HTC Rezound, which has a slightly smaller screen and measures .53 inches thick. The new LG Spectrum, however, measures .42-inches thick.

LG promises that the Gingerbread-packing phone will definitely get an update to Android 4.0 Ice Cream Sandwich, which is a huge improvement over Gingerbread in my personal opinion.

You’ll find a 1.5GHz dual-core processor from Qualcomm under the hood, along with an 8-megapixel camera on the back (capable of 1080p video capture) and a 1.3 front-facing camera for video chat. The Spectrum packs 1.5GB of RAM, which you can couple with an included 16GB microSD card.

HDMI-out of the MHL persuasion is included, and of course, support for Verizon’s 4G LTE network.

The Spectrum will be available at Verizon on January 19 for $199 on a two-year contract. For the specs we’re seeing on this phone, that’s an amazing deal.