Boy, it seems like we've stumbled into New Sprint Device Rumor Week. After rumblings of a device codenamed "HTC Jewel" surfaced on Tuesday and then we got wind of the ZTE Fury yesterday, another report has emerged claiming that a new LG handset is Now Network-bound. According to Pocketnow, the LG Optimus Net will eventually be released on Sprint as the LG Optimus Elite. Like several other Sprint devices before it, the Optimus Elite is also said to be going to Virgin Mobile after its Sprint debut. The devices have already passed through the FCC with the model numbers LS696 (Sprint) and VM696 (Virgin Mobile).
As far as specs go, we're told to expect a 3.2-inch 480x320 display, 5-megapixel camera, 4GB storage, 512MB RAM and NFC. There's also said to be an 800MHz processor under the hood. Pocketnow claims that the Optimus Elite should be arriving by the end of May, but there's no word yet on how much it'll cost when it does hit retail.
Overall the Optimus Elite looks like another entry-level Android handset that'll likely be pretty budget-friendly when it hits Sprint shelves. It's worth mentioning that earlier today we heard that Sprint is planning to introduce 10 devices with Google Wallet support this year, and if the Elite does indeed feature NFC connectivity, it could be one of those 10 Wallet-capable products. Google Wallet support on the Elite may not be enough to draw in folks that would've passed over the device anyway for something with better specs, but Wallet support could be a nice feature for folks that are in the market for a smaller, entry-level Android phone. We'll bring you more on the Optimus Elite as we get it.