LG is now reported to announce a new smartphone series on May 15th. The report is coming from Naver, a South Korean publication, that previously reported about LG's plan to ditch G-series of premium smartphones. It is speculated that next month's launch will be related to the same series that will be the replacement.

The report mentions that this new LG smartphone will be 5G compatible but will not be a flagship product. It will be an upper mid-range phone with a Qualcomm Snapdragon 700-series processor. It will allow the company to offer 5G connectivity while keeping the asking price well within the reach of buyers.

Interestingly, LG is said to have informed major Korean carriers that the new phone will be released under new branding. It will not use the "G" series branding that has been known for flagship devices. This is not completely surprising as LG launched LG V60 ThinQ 5G earlier this year as compared to its usual release schedule of year's second half. The first half of the year is meant for a new LG G-series phone announcement which did not happen.

The only other thing known about this mysterious upcoming LG phone is that it is expected to be priced somewhere around $720. If there is any new information, we will make sure to keep you updated.