The official news site for North Korea describe Kwangmyongsong-3 as one Earth observation satellite.
This were a backup with the same name as for the satellite of the failed launch on April 13, 2012.
The one now in orbit by some source referred to as "Kwangmyŏngsŏng-3 Unit 2".
According to NORAD data Kwangmyongsong-3 (Unit 2) is in an somewhat elliptical orbit (494.85 to 588.13km) from Earth taking 95.4 minutes per orbit.
http://www.globaltimes.cn/content/749975.shtml
(Edit since the link posted did not work and one explanation to avoid name confusion with the previous attempted launch.)
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