LG officially announced the entry-level LG G Pro Lite on Thursday, confirming reports earlier this month that the company has been working on a budget phablet. The rumored specs appear to have been spot on, including the 5.5-inch, 960 x 540-pixel display, 1.0 GHz dual-core processor, 8-megapixel rear camera, 1.3-megapixel front camera, 1GB of RAM, 8GB of internal storage, microSD slot and Android 4.1.2 Jelly Bean. LG’s Stylus Pen will also be included in the box.

“With LG G Pro Lite, we are introducing a competitive device to the masses in the growing large smartphone market,” said LG CEO Dr. Jong-seok Park. “The market for smartphones with displays over five inches will continue to grow and LG is in a great position to capture these new customers when they’re ready to move up from their current phones.”

The LG G Pro Lite will make its debut in Latin America this month, followed by Asia, Russia, China, India and the Middle East in the near future. No word yet on the phone’s price or whether it will make its way to the U.S.

Jacob started covering video games and technology in college as a hobby, but it quickly became clear to him that this was what he wanted to do for a living. He currently resides in New York writing for BGR. His previously published work can be found on TechHive, VentureBeat and Game Rant.