LG rolled out a new Optimus series Android smart phone this weekend with the announcement of the Optimus Sol. Featuring a 3.8-inch (800×480) display, 5-megapixel camera, and 512MB RAM, the Sol is touted as the “most affordable 1GHz Android smartphone with an AMOLED display.”

One feature which all Android phones could take advantage of is LG’s new power management system which is said to improve the 1500mAh battery life by 20%-30%.

The LG -E730 handset will be available starting mid-September in Europe, and then later in Central and South America where it will be offered in white, black, and titan color options. Additional specifications include 2GB microSD card (up to 32GB), and support for Wi-Fi, GPS, and Bluetooth. Pricing and exact carrier announcements were not made as of yet.