Rumors regarding the LG G4 Pro have been circulating since last month, saying the new smartphone was expected to be released in the third quarter of this year.

In addition, new rumors have recently surfaced saying South Korean multinational company LG Electronics is also developing the LG G Pro 3, a successor to the LG G Pro 2 handset released in April last year.

Both new devices are expected to have phablet-sized display screens and impressive camera capabilities, along with improved hardware performance.

Here's the difference between the two in terms of specs and features. The LG G4 Pro is expected to sport a metallic body, a 5.8 inch IPS Display screen with a 1440 x 2560 resolution and protected by Corning Gorilla Glass 3. The LG G Pro 3, on the other hand, is expected to sport a larger 6 inch Quad HD display screen with a 1440 x 2560 pixel resolution.

Both handsets will reportedly run on the new Android 5.1 Lollipop operating system. According to reports, they will be powered by the same Qualcomm's Snapdragon 820 SoC processor, along with 4 GB RAM and expandable memory storage.

The LG G Pro 3 is expected to come with 20.7 mega pixel rear camera and an 8 mega pixel front-facing camera. In comparison, the LG G4 Pro is expected to have a superior 27 mega pixel camera on the back and an 8 mega pixel camera on the front. According to reports, like the rumored LG G5, rthe LG G Pro 3 will come with iris scanning technology, alongside a fingerprint scanner.

It's still unclear when the new LG handsets will be released. Techno Buffalo recently reported that the LG G4 Pro might make its way out this October. On the other hand, rumors say the LG G4 Pro will cost about $790 and might be available before the end of the year.

The LG G series is a line of high-end Android devices produced by LG Electronics. The "G" designation was first introduced in 2012 as a branch of the LG Optimus series for flagship devices, but LG announced in July 2013 that the "Optimus" name would be discontinued for future flagships in favor of maintaining "G" and "Vu" as distinct brands.