Are you on the lookout for a quality smartphone, but have a strict budget? With flagship handsets like the Samsung Galaxy Note III and the HTC One Max costing a pretty penny, it's easy to blow your entire tax return on one. So if you don't require the absolute best model, look no further than the LG G2 Mini. 

The LG G2 Mini looks just like its bigger brother, the LG G2, albeit in a smaller, tinier, form factor. But the performance doesn't scale down so well. It's significantly less powerful for several reasons. A Qualcomm Snapdragon 400 quad-core processor powers the phone rather than the beefier 800 series chip. The RAM was also halved from 2GB to 1GB.

Perhaps the most notable differences between the two revolve around the display. The G2 is in the phablet category. It sports a beastly 5.2" Full HD (1920x1080p) screen. The Mini takes a significant step back -- the resolution is halved to a paltry sub HD 960x540p. Yet, the Mini's 4.7-inch screen size nearly matches the Samsung Galaxy S3's 4.8-inch display.

Despite the underperforming specs, the Mini can get down to business. It can play most games without a hitch. People may even mistake it at first for the full-fledged G2. You won't be judged.

The G2 Mini has one chief rival: the Moto G handset from Google. The Moto G also has a bigger sibling. It's styled after the premium Moto X handset. Both the G2 Mini and Moto G both come up short on built-in storage. 8GB is embarrassingly low. The Mini's storage can be expanded. Yet, the Moto G lacks an SD card slot. Both smartphones also come preloaded with the latest version of Android 4.4.

The LG G2 Mini will be available in the U.S., Europe, Asia and Latin America. It comes in four different colors: black, white, red, and gold. A specific release date hasn't been mentioned.