The LG G5 is one of the most-talked about devices back in 2015 and that hasn't changed since the rumors continue to swirl regarding the device's release date, specs and features.

According to an earlier report from Korea IT news, ETNews, the LG G5 is expected to arrive in the first quarter of this year—more likely during the Mobile World Congress next month. This news reportedly came from sources inside the industry.

This report remains unconfirmed, but if it is true, it won't be long before fans will be introduced to a new LG flagship. But what can be expected from this new phone?

Evan Blass, a.k.a the tipster @evleaks, wrote in VentureBeat in December that the LG G5 will be considered as the company's most premium device.The juicy details were revealed by a person who has knowledge of LG's plans.

Furthermore, the G5 is said to adopt some of the features seen in the previous G-series models and the recent LG phone, V10.

It will reportedly sport a 5.4-inch display, a bit smaller than the previous G4, but still offers the same quality of resolution, at 1440 x 2560 pixels.

The G5 will also run on the same chip set that is found in some variants of the Samsung Galaxy S7, the Qualcomm Snapdragon 820. It will also retain G4's 3GB RAM and 32GB internal storage.

The G5 is also said to offer a dual-lens 16-megapixel main camera, according to Blass' source, while the selfie shooter will carry the same resolution, 8-megapixel, as the G4.

On the battery side, the G5 may not be that impressive since the report indicated that the device will carry a 2,800 mAh battery, instead of the 3,000 mAh found in its predecessor.

Other rumored features include a fingerprint sensor and the highlighted "Magic Slot." No one really knows specifically what this "magic slot" is for, but according to the report, it serves as a special port for hardware add-ons like an external keyboard or a VR headset.

That sounds quite interesting, but as expected, nothing has been confirmed at this point. Still, Android fans should just look forward to more details about this rumored device, which should pop up any time soon.