On Monday, AT&T unveiled an attractive `budget contender' among the currently-available array of 4G handsets --- the LG Escape, which will clearly be more appealing than the other 4G phones around because of the fact that it comes with a rather fetching price-tag of $50, with a two-year contract.

AT&T said in its announcement of the new LG Escape - which can apparently be compared to Verizon's newly-introduced Samsung Galaxy Stellar handset, in so far as the affordability aspect is concerned - that the budget 4G handset will hit the markets on September 16.

According to AT&T, the LG Escape has been designed for compatibility with the carrier's high-speed fourth-generation network - that is, 4G LTE network - as well as its upgraded 3G network called HSPA+.

Going by the AT&T announcement, other than the carrier's 4G LTE advantage, the LG Escape features a 4.3-inch "qHD" IPS touchscreen display; a 1.2 GHz dual-core processor; 4GB on-board memory, expandable up to 32 GB with a microSD card; 2,150mAh battery; and a 5-megapixel auto-focus camera.

The handset will use the Android OS 4.0 `Ice Cream Sandwich' version - rather than the newest `Jelly Bean' version - and will also boast Near-Field Communication (NFC) capability, which will allow its users to pay for some items via transmission of small amounts of data - like credit card numbers - over very short distances.