The Nexus 4 and Optimus G seem to have brought some of LG’s old mojo back, but this won’t mean anything if the Koreans won’t capitalize on that newfound popularity with other cool phones soon.

An upcoming LG handheld going by the MS870 and LW870 model numbers has just been leaked, starring in a blurry image next to Samsung’s Galaxy S3 and getting FCC’s regulatory blessing. And while this looks nothing like a top-tier device for 2013, it might be just what LG needs to appeal to more budget-conscious tech consumers, too.

The mysterious phone seems to be only headed to MetroPCS and Cricket Wireless (hence the model numbers), but that doesn’t mean it can’t become a hit. What pretty much guarantees its potential for greatness is the rumored spec sheet, which includes a dual-core 1.5 GHz Snapdragon S4 CPU, Android 4.0 ICS, a 2,150 mAh battery, and LTE connectivity.

Based on the blurry pic leaked from Android Forums, it also looks like the MS870 will sport a large display, very close in size to the one on Samsung’s Galaxy S3 (probably a 4.5-incher). Pricing is “estimated” at $180-$200, while the release date is “unknown”.

We can’t say much about the handheld’s design based on just the image on hand, but something tells us that this will have some common points with Boost Mobile’s LG Venice. That’s a pretty stylish ICS-flavored 4.3-incher, though under the hood there’s not much to be excited for.

Remember that nothing about this phone is yet official or confirmed in any way, so pinch of salt, alright? That said, do any of the speculations make you excited about the MS870/LW870?