Before you get too excited, this is a device aimed at the domestic market in Korea, so it's debatable whether we'll see it outside of its homeland.
But for those who like to keep abreast of such things, the LG G Stylo is a 5.7-inch device with a 1280 x 720 pixel resolution (258ppi) IPS In-Cell Touch display.
It measures 154.3 x 79.2 x 9.6mm and weighs 163g and sports that rubber stylus that we saw on the predecessor, the LG G3 Stylus.
As this is designed to be affordable, it's no surprise to find a Qualcomm Snapdragon 410 quad-core chipset under the hood, supported by 1.5GB of RAM.
There's a 3000mAh battery powering the thing, which should give good solid battery life.
There's 8GB of internal storage, but you can expand that using microSD, with an 8-megapixel camera on the rear, paired with a 5MP selfie camera.
Elsewhere you'll find the LG G Stylo launching on Android 5 Lollipop, with LG's UX layered on the top.
It's worth noting that this is a Korean release and there's no details on whether we'll be seeing this cheaper note-style device in other markets.