The Sprint LG Optimus S, the third smartphone that Sprint had announced a month ago at CTIA with Sprint ID, will be available this Sunday on November 7th for U.S. residents. The sleek device will retail for $50 after a $100 mail-in rebate and on a two-year service agreement boasts modest specs, but comes with the latest version of Android with Froyo pre-loaded. Featuring a 3.2-inch screen, a 3.2-megapixel camera, 600 MHz processor, and mobile hotspot capabilities, the LG Optimus S for Sprint will be a great smartphone for those who don’t need the more powerful specs of some higher-end models, like the Epic 4G or EVO 4G. When we played around with an Optimus variant at an LG booth at CTIA, the device feels snappy, despite a more modest processor speed. The other two devices in the initial Sprint ID lineup include the Sanyo Zio and Samsung Transform.