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(Pocket-lint) - Huawei has announced the launch of the Huawei Ascend P2 at Mobile World Congress in Barcelona on Sunday.

The Chinese company had teased that we would see more innovative products at the mobile conference in Spain and the 4.7-inch handset appears to bring competitive specs to the table, leading with the headline "world's fastest LTE smartphone" in reference to the LTE Cat 4 compatibility, theoretically giving you download speeds of 150Mbps.

The new Android handset has a quad-core 1.5GHz processor at its core, along with 1GB of RAM and 16GB of internal storage. There's a 13-megapixel camera around the back, along with a 1.3-megapixel front-facing camera for video calling.

But while some specs may appear to be those of a flagship device, it’s the display that sets it a notch down from the latest top-flight devices.

Sized at 4.7-inches, it misses out on the highest resolution. Still, at 1280 x 720 pixels, the 312ppi density IPS display will give Android 4.1 Jelly Bean that sheen, matching the likes of the Nexus 4 and the HTC One X. It's topped with Gorilla Glass, however, and the device is only 8.4mm thick.

The Huawei Ascend P2 is skinned with the company's Emotion UI 1.5 which might not add to much to the experience Android experience. Equipped with 4G LTE Cat 4, it's likely to find its way to the UK as an affordable 4G handset, much like the Huawei Ascend P1 LTE did with EE.

NFC is on board (in some markets) and the Huawei Quick Power Control and Automated Discontinuous Reception (ADRX) technologies are said to save power and reduce charging times by up to 25 per cent compared to other devices.

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You can also use the Ascend P2 while wearing gloves, thanks to "magic touch" - something that we saw Nokia do in the Lumia 920.

The Huawei Ascend P2 will be available on Orange France in June 2013, it has been confirmed.

"We're pleased to be working with Huawei again to enable our customers to have easier and faster access to all their favourite content," said Yves Maitre, Orange senior vice-president, mobile multimedia & devices. "We are impressed by the design and look forward to putting the Ascend P2 into the hands of consumers as soon as possible."

Huawei has confirmed the Ascend P2 will be available globally in Q2 2013, in black and white. The Huawei Ascend P2 will be priced at €399 (£349).

READ: Huawei Ascend P2 pictures and hands-on

Writing by Chris Hall.