South Korean tech company LG Electronics is rumored to introduce a new premium line aside from its current LG G series. 

According to Korean media Korea Herald, LG's mobile business chief Cho Jun-ho said that the company is planning to release a new product in the second half of 2015 that is above the G series. This makes sense since the LG G4 is rumored to be announced in April and the bottom half of the year remains empty. 

"We aim to have our smartphone sales grow 20 percent on-year in 2015. If the popularity of the G2 and the G3 continues through the G4, we expect to grab a meaningful third-place presence," said Cho.

Another great reason to release a new line is because of the success of the LG G3. The device received the award for Best Smartphone at the GSMA's 20th Mobile Global Awards at the Mobile World Congress in Barcelona. The company shared the award with Apple's iPhone 6.

Currently, the LG flagship smartphone costs around $800. Reports say that the new premium line would be more expensive due to higher grade specs and features.

Meanwhile, the LG G4 is reported to arrive in April. There have been reports saying that LG is currently "perfecting" the smartphone.  Last month, MyLGPhones picked up a leaked file that hinted that the new smartphone from LG will have "LG- F500S", "LG-F500K" and "LG-F500L" versions, which represents the carriers in South Korea. This could mean that the smartphone will hit its home country first before it will be released in the U.S.