Now though, it appears as if LG and/or Verizon has had a change of heart as we’re now hearing that the device is heading to Big Red with a name called the LG Intuition instead. Packing a 5-inch display, the LG Intuition is going to provide a Galaxy Note-like experience for consumers who are looking to stay on Verizon and aren’t interested in the upcoming Galaxy Note 2.

LG may be launching the first real competition to Samsung’s Galaxy Note, but LG may be facing another battle on their hands if HTC’s rumored 5-inch phablet lands on Verizon before the end of the year as well. If the likes of the iPhone 5 or Galaxy S3 doesn’t appeal to you, it looks like you’ll be able to pick up the LG Intuition at regular LTE contract pricing, or without a contract for a fixed sum.

The guys over at Droid-Life have supplied a memo which reveals that the Intuition is going to be priced at $199 on a two year contract, or $549 for those that are willing to buy the device outright. We’re still not convinced that the square-ish design is going to win over fans though, regardless of a name change or not.

There’s also the possibility of the device shipping with Ice Cream Sandwich, rather than Android 4.1 Jelly Bean which a collection of handsets are already running. Given the update saga surrounding the HTC Rezound and Droid RAZR, it’s unlikely that consumers are going to fall into the same ‘promised update to Android.xx after purchase’ trap again.

What are your thoughts on LG’s entry into the phablet world? Do you still think the Galaxy Note reigns supreme, or are you willing to give the Intuition a try out?