[Update: May 7th] LG will reportedly unveil its new premium smartphone series on May 15th

Update (4/24/20 @ 10:50 AM ET): LG has announced that the LG Velvet will be unveiled on May 7th.

Rumors about LG dropping its flagship G series first popped up late last month, with a report from a renowned Korean publication claiming that the brand would launch a Snapdragon 7xx-powered smartphone series instead. The publication revealed that the upcoming smartphone series would feature support for LG’s Dual Screen attachment, offer 5G connectivity, have a screen size between 6.7 to 6.9-inches, pack in a 48MP primary camera, and feature a 4,000mAh battery. While LG issued a statement shortly thereafter, the company neither confirmed nor denied the rumors. Now, the Naver News Agency has released another report which claims that the new LG smartphone series will be revealed on May 15th.

The report claims that at a recent product briefing with a few Korean telecom operators LG confirmed that it will be dropping the G series in favor of a new series. The company also revealed that the new series will be unveiled on May 15th, with one of the attendees quoted saying, “At present, 15 days is definite.” (translated) During the briefing, the company also revealed that the upcoming series will offer 5G support using a Qualcomm Snapdragon 7 series chip. Since the Snapdragon 765 and 765G are the only 7-series chip from Qualcomm to feature a 5G modem, we can safely assume that either one of these will be powering the upcoming LG smartphone.

The Snapdragon 765 series are mid-range chips from Qualcomm, which are significantly cheaper than its flagship Snapdragon 865 SoC. Using the Snapdragon 765/765G will help LG significantly reduce the costs of the upcoming smartphone series, which falls in line with the company’s recent shift in strategy. According to LG’s 2019 financial report, the company aims to invest heavily in mass-premium and mass-tier 5G products in order to renew public interest in its devices.

Source: Naver News Agency

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Update: May 7th

LG Korea has posted a “digital invitation” on YouTube that reveals they will be announcing the LG Velvet on May 7th. Like all the recent smartphone launches, this will be a “virtual” event.

Since the original article above was published, a number of other stories have been posted. We got our first look at the Velvet device when LG shared some sketches. These sketches revealed the very thin bezels and the “raindrop” camera design, which puts the 3 cameras and the flash in a vertical stack in descending order.

Later, the company teased the device in a video, showcasing the color option and confirming some specifications. LG says the device will come in 3 colors (though they showed 4): Aurora White, Aurora Grey, and Aurora Green. The video also revealed the device will have a headphone jack, a Google Assistant button, USB-C, and the Snapdragon 765 SoC.

The most recent news about the LG Velvet concerns accessories. A report claims the device will support LG’s Dual Screen accessory, just like the LG V60. Another report claims the Velvet will have active pen support, which is also a feature on the V60, but LG has never mentioned it. All will be revealed next month.

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