It was recently revealed that South Korean company LG Electronics is preparing to unveil the successor to this year's LG G Flex 2 curved smartphone sometime by March of next year.

The LG G Flex 2 was announced earlier this year in January and was later launched in February.

Last month, a rumor surfaced revealing most of the expected specifications for the upcoming LG G Flex 3. Here's the difference between the new phone and its predecessor in terms of the specs and features.

In a review by Tech Radar, the LG G Flex 2 was commended for its flexible display screen, camera features and fast software performance.

The LG G Flex 2 sports a 5.5-inch display screen with a 1080 x 1920 pixel resolution. According to GSM Arena, the LG G Flex 3 is rumored to sport a 6-inch display screen, which is 0.5 inch larger than the previous model, along with QHD pixel resolution.

The LG G Flex 2 comes with a 13-megapixel camera on the back and a 2.1-megapixel camera on the front. On the other hand, the LG G Flex 3 is expected to have a whopping 20.7-megapixel primary camera, according to recent rumors, along with an 8-megapixel shooter on the front.

Under the hood, the LG G Flex 2 has a Qualcomm MSM8994 Snapdragon 810 quad-core processor, 2GB RAM and 16GB expandable built-in memory storage. In addition, another option is available offering 3GB RAM and up to 32GB internal memory.

For the upcoming LG G Flex 3, it is rumored to have Qualcomm's latest Snapdragon 820 processor, 4GB RAM, and a 32GB expandable built-in memory. The upcoming phone is also anticipated to sport a metal body and to come with a fingerprint scanner onboard. Also, website MobiPicker reports that the LG G Flex 3 might cost around US$500 to US$700.

Since the LG G Flex 3 handset is still in its early stages, these specifications should be considered as speculations.