Why it matters: After a series of teasers and announcements, LG finally launched the mid-range Velvet in its home market. The company is yet to decide on the phone's international availability, but local pre-orders are going live tomorrow, with sales commencing from Friday next week.

The Android market has gained an interesting new entry with the LG Velvet, even if the phone's availability is limited for the time being, and the fact that its pricing seems a tad on the premium side given the mid-range internals.

These include the 5G-capable Snapdragon 765 SoC, 8GB RAM and a single storage option at 128 GB with up to 2TB microSD expansion. The display, which LG calls ''Cinema FullVision" is a 6.8-inch OLED panel with a 20.5:9 aspect ratio and FHD+ resolution (1920 x 2460).

Content consumption is further enhanced by stereo speakers and an optional Dual Screen accessory similar to that seen on the G8X ThinQ. A stylus pen will also be sold separately to make use of the tall display.

The rain droplet-inspired camera modules on the back consist of a 48MP OIS main shooter, alongside an 8MP ultra-wide and 5MP macro lens with LED flash. The U-shaped cutout on the front, meanwhile, houses a 16MP wide-angle lens.

For connectivity, there's the usual Wi-Fi 802.11 (no Wi-Fi 6), Bluetooth 5.1 and NFC support. A USB Type-C port is used for interfacing and there's also Qi wireless charging on-board for juicing up the phone's 4,300 mAh battery.

Fans looking forward to LG's audio enhancements on its latest phone might want to hold on to their V60s, as there's no mention of an on-board DAC for the Velvet. The phone still features a 3.5mm audio jack on the bottom and it looks like LG skipped on the additional hardware in favor of keeping costs down.

Other details of the LG Velvet include Android 10 out of the box, IP68 dust and water resistance, optical fingerprint sensor below the tall display, dual-sim support and four color options: Aurora White, Aurora Gray, Aurora Green, and Illusion Sunset.

LG is reportedly planning a global launch for the Velvet in the near future; however, the phone's ~$735 price tag might make it tough to stand out with mid-range specs in the immensely competitive and crowded Android market.