Update Verizon is now showing that the on-contract price for the LG Lancet is just $19.99 as a special sale price, rather than $69.99.

Original story: Yesterday, a rumor suggested that the Verizon-bound LG Lancet would be available starting May 21, but it looks like the carrier decided to pull the trigger on the phone ahead of ahead of schedule. The Lancet is now up for sale from Verizon for $69.99 on a new two-year contract and $120 outright. If you're looking to go with a monthly payment plan, you can grab the handset for $5 a month for 24 months.

Targeted at the entry-level segment, the Lancet includes features normally found in LG's Android-based models, such as KnockOn, through which you can double tap to wake the screen, and Gesture Shot, which allows you to automatically click pictures from the front camera through gestures. Here's a list of the hardware that's on offer with the Lancet: