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LG pulled the covers off their Android-powered Optimus 2X smartphone, revealing the first handset to pack a Tegra 2 chipset—featuring a 1 GHz dual-core processor—under its hood.

The added processing power apparently allows the Optimus 2X to playback 1080p video with no lag on its 4-inch, 800×480 screen, and can supply visuals to larger displays thanks to HDMI mirroring. And you can even use the HDMI connection to play Android games on a larger screen, still using the phone as a controller. Toss in 8 gigabytes of internal storage, along with front and rear cams (8 megapixels and 1.3 megapixels, respectively), and you have yourself a seemingly solid handset.

The Optimus 2X, slated for a 2011 release in Asia and Europe, will ship with Android 2.2 (Froyo), but of course, a 2.3 (Gingerbread) update will follow. There’s been no announcement about a U.S. release yet. Specs below:

Key specifications:
1Ghz Dual-core Processor (NVIDIA Tegra 2)
4-inch WVGA screen
8GB memory (up to 32GB via microSD)
1,500 mAh battery
8 megapixel rear camera and 1.3 megapixel front camera
HDMI mirroring
1080p MPEG-4/H.264 playback and recording