It's called the LG Vu 3, and yes, LG's finally dropping the Optimus brand in exchange for a moniker that's straight-to-the-point and un-confusing. However, the phone retains its predecessor's odd 4:3 aspect ratio while increasing the size of the display to 5.2-inches.
Inside is a quad-core Snapdragon 800 processor, 2GB RAM, LTE radio, and a 13-megapixel camera on its back. The LG Vu 3 is running Android 4.2 Jelly Bean and will hit Korean stores on the 27th this month. The price has yet to be announced.