A photo recently posted (and subsequently pulled) from TwitPic depicts a phone said to be LG's U1, a rather attractive handset claimed to be the company's first to run Android 4.0. Little is known about the phone, but GSMArena reports that the photo's original source claims it's on track for a 2012 release.
From the imagery, it looks like we can expect an 8-megapixel camera — capable of 1080p video capture, no doubt — and a rather high surface area-to-thickness ratio that would suggest a big screen and a thin shell. It had seemed like the smartphone thickness wars were stabilizing in the 8- to 9-millimeter range, but then Motorola just recently pulled out the big guns with the impossibly thin Droid RAZR — an LTE-capable phone that clocks in at just 7.1mm at its thinnest point — so it stands to reason that LG, Samsung, and others would be heading into that range over the coming months as well.
LG just recently announced the Optimus LTE, featuring a large 720p display and LTE capability. There's no word on whether we'll see LTE here as well, but the U1 generally looks like an apt successor to the Optimus, which would dovetail nicely with the claim of a release next year.