By Robert Schoon (r.schoon@latinospost.com) | First Posted: Jun 03, 2013 12:42 PM EDT

Acer announced on Monday its first entry into the "phablet" market: The Acer Liquid S1. Like other similar smartphone devices that are too big just to be called phones, but more portable than tablets, the Liquid S1 will compete against the likes of the LG Optimus G Pro, the rumored HTC T6, and, of course, the Samsung Galaxy Note 3. Here's what we know about it so far.

Acer's first phablet will sport a 5.7 inch screen, which is slightly bigger than the Galaxy Note 2, but smaller than the possible 6-inch Galaxy Note 3, the 5.9 inch rumored HTC T6, and the behemoth 6.3 inch screen that the Samsung Galaxy Mega's display may feature. The Liquid S1 will also boast 1280 x 720p high definition resolution on the screen.

The device will be powered by a 1.5GHz quad-core Mediatek processor, and it will be assisted by 1GB RAM, according to Engaget's report on the Acer's new offering. The device will have an option for dual SIM cards, which keeps it in the running with its competition globally, though it looks like it will not be LTE-ready. It will come with 8GB storage with a microSD slot that can expand it up to 32GB.

Other specs from Acer are a little hazy at the moment. There's no word on the sensor strength of the camera, only that it will have a 88 degree wide-viewing angle and a 24 mm lens. Additionally, the company promises "a day's worth of battery power" on a 2,400 mAh battery, which seems like a stretch for heavy users. The Liquid S1 will run Android 4.2 Jelly Bean, along with Acer's custom UI on top.

Acer is offering some interesting features with their software, called "Float UI." There's a two-finger drag down menu, the way you would with one finger to get notifications, that takes you straight to settings. There's also a multitask button that gives you a translucent pop-up screen with several different short cuts to app widgets—all while you're running another app on the main screen.

Acer plans to compete in Asia and Europe, and with a price point of the equivalent of about $450 US, it may prove to be a viable cheaper alternative to other, more premium phablets. There is no U.S. release date given for now, but we'll keep you updated.

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