Homegrown phone maker Lava Mobiles has announced the launch of its new phablet, the Iris 550Q in India. The device boasts of a 5.5-inch OGS, 720p display and is powered by a 1.2 Ghz Quad Core processor. It runs Android 4.2 under the hood and packs in 1GB of RAM and 4 GB of internal memory – expandable to 32 GB using micro SD cards. There is an 8 megapixel main camera as well as 2 megapixel front camera. The device would go on sale starting this month for Rs.13,000.