Verizon Wireless has just announced that the LG Spectrum 2 smartphone is now available for purchase from its online store for $99.99 with a new two-year agreement. The Spectrum 2 follows the Spectrum from last year and features a 4.7-inch, True HD IPS 720p display, dual-core Qualcomm S4 processor clocked at 1.5GHz, 8-megapixel camera, and 16GB of internal storage. It runs Android 4.0 Ice Cream Sandwich with LG's custom user interface, including the company's QuckMemo app for easy screenshot capture and notation. Essentially, the Spectrum 2 is Verizon's version of the Optimus LTE 2, and it has been rumored for some time that Verizon would eventually carry this phone. Unfortunately, there is no timeline given for an upgrade to Android 4.1 Jelly Bean.

The Spectrum 2 appears to be a competitive device — it has what promises to be an excellent display and a modern processor — but it's not the best that LG has to offer at the moment. Sprint and AT&T are both carrying the Optimus G this fall, which is a much more interesting device on paper, and the just announced Nexus 4 by LG features the latest software available from Google, even if it lacks support for LTE networks. Still, at $99.99 on-contract, the Spectrum 2 is competitively priced and offers customers a high-end device in the mid-range price bracket. Verizon says that the phone will be available for purchase in its retail stores in the coming weeks.