Rumors of a new 4G LG handset called Lucid (codename Cayman) on Verizon have cropped up in the past few weeks, and now we've got confirmation: Verizon has just announced the Lucid, a midrange 4G Android 2.3 Gingerbread smartphone set for launch on March 29th for $79.99 after a $50 mail-in-rebate and two-year contract. The Lucid houses a 1.2GHz dual-core processor, a 4-inch Gorilla Glass covered touchscreen, 1GB of RAM, a 5-megapixel rear camera, and a front facing camera that can capture 1080p video. Verizon neglected to include the phone's screen resolution, but if rumors are correct, that 4-inch touchscreen should measure in at 800 x 480 pixels. The phone's appearance also seems to stack up to leaked renders we've previously spotted. Verizon says the Lucid will be upgradeable to Android 4.0, but we can't say that's a selling point for a phone due out in the spring of 2012.