Samsung unveiled its Galaxy Note 2 earlier this year and the grapevine has been abuzz with rumors and leaks that LG is likely to release Optimus Vu 2, a follow-up to its Optimus Vu phablet, challenging rival Samsung's dominance in the phablet market.

Here's a round-up of the features of the Galaxy Note 2 vis-a-vis the LG Optimus Vu 2.

Processor
The Galaxy Note 2 has a powerful quad-core Exynos processor clocked at 1.6GHz. On the other hand, speculations indicate that the LG Optimus Vu 2 will have a 1.5GHz dual-core Qualcomm processor.  The Note 2's processor ousts the Optimus Vu2 in speed.

Display
The Galaxy Note 2's sports a 5.5-inch Super AMOLED multi-touch capacitive display, which is much larger than the Optimus Vu 2's 5-inch IPS LCD multi-touch capacitive touchscreen display.  Moreover, the Optimus Vu2 has a slightly lower 1024 x 768 pixels resolution at 256 ppi, compared to the Note 2's 1280 x 720 pixels at 267ppi.

The Note 2 has a 16:9 aspect ratio, whereas the Optimus Vu 2 is rumored to have a much lesser 4:3 aspect ratio.

Weight, Thickness, and Body
The Optimus Vu 2 measures 5.20 x 3.37 x 0.37 inches and weighs 0.35 pounds. The Note 2 measures 5.95 x 3.16 x 0.37 inches, making it taller and narrower. Both the phones have the same thickness. However, at 0.40 pounds, the Note 2 is much heavier than the Optimus Vu 2.

Storage and Memory
The Note 2 is available in 16/32/64GB versions, whereas the Optimus Vu 2 is expected to be available only in 16GB.

Additionally, the Optimus Vu 2 offers additional memory of up to 32GB via a microSD card, whereas the Note 2 offers up to 64GB.

Both the devices have 2GB of RAM. 

Software
The Galaxy Note 2 trumps the Vu 2 when it comes to OS. The Note 2 will come pre-loaded with the latest Android 4.1 Jelly Bean; by comparison, the LG offering is rumored to come with the older Android 4.0 Ice Cream Sandwich out of the box.

Battery
A 3100mAh battery powers the Galaxy Note 2, whereas rumors indicate that a less powerful 2150mAh battery will fuel the Optimus Vu 2. Samsung claims that the Note 2's battery supports up to 16 hours of talk time (3G).  Details of how many hours of usage the Optimus Vu 2 will support are not yet known.

Camera
Both the phablets will offer users an 8-megapixel rear-facing camera. However, Samsung's 1.9-megapixel front-facing camera is better than the likely 1.3-mgeapixel front-facing one on the Optimus Vu 2.

Availability
Samsung's Galaxy Note 2 is available in the UK, and will hit the U.S. shelves on Oct. 24.

LG is yet to disclose the details and a release date for the Optimus Vu 2, but speculations are rife that the device is expected will hit the market in time for the holiday season.

With both the Galaxy Note 2 and the Optimus Vu 2 having minor differences in features, ultimately user preference will dictate which device garners more accolades.