LG Electronics just released the LG G4 smartphone in the U.S. earlier this month. Fans are now expecting the launch of a new model, the LG G4 Note, which is expected to compete against the likes of Samsung's Galaxy Note 4 and the highly anticipated Galaxy Note 5.

Samsung's Galaxy Note 4 had been very popular, according to a recent survey, and the new Galaxy Note 5 is expected to come with new improvements over its predecessor.

According to rumors, the new LG G4 Note handset is expected to arrive sometime within the second half of this year. With no release date in sight, these speculations should be taken with a grain of salt.

For Samsung's Galaxy Note 5, it is expected to arrive sometime within the second half of this year as well, with rumors suggesting a possible October or September release date, possibly at the IFA 2015 event in Germany.

The new LG G4 Note is expected to come with a larger display screen and improved features, according to early rumors.

Earlier rumors suggested the upcoming LG G4 Note handset might come with a 5.7 or 5.9 inch display screen with a 3K resolution. The phone might come with 4 GB worth of RAM and 32 GB internal memory storage. It will be powered by Qualcomm's Snapdragon 810 processor and a bigger battery that will offer longer battery life.

It is also suggested that the LG G4 Note handset will have a sharp 16 mega pixel rear camera and a 5 mega pixel front-facing camera, the same as the recently released LG G4 handset.

Another report also suggests the possibility that the phone might run on the Android 5.1.1 Lollipop or the new Android M operating systems, since the expected release date is by the second half of this year.