Previous rumors placed LG Electronics to be unveiling its new smartphone iterations early this year, and fans expected the South Korea-based company to unveil the much-anticipated LG G5 at the Consumer Electronics Show. However, LG decided to unveil a new range of K-series phones instead, and the CES passed without fans getting a glimpse of the new premium G series lineup.

Recent speculations suggest that LG is still on track in unveiling the G5 in the first quarter this year, and the company is targeting next month's Mobile World Congress.

According to Australian Network News, although LG has yet to confirm the details, fans expect the LG G5 to finally show at the MWC 2016, to be held in Barcelona on Feb. 22 to 25. Observers believe that since the G5 did not appear at the CES, the MWC is the nest most likely event for the upcoming flagship to be unveiled, keeping up with the first-quarter unveiling rumors.

However, LG also has an option to unveil the LG G5 at its own press event, much like what Apple is rumored to be planning (speculations say Apple will unveil its new products at a March press event).

Meanwhile, aside from an early 2016 release date, speculations also continue to float online about the G5's specs, since LG also remains silent on the technical details of the upcoming device. According to noted tipster Evan Blass, LG will integrate a feature recently found on the LG V10 -- apparently, the G5 will also have dual displays. Aside from the main 5.3-inch QHD screen, the G5 will have a ticker display on top.

The industry observer also said that an additional feature will make the G5 stand out from other premium flagships this year. Allegedly, the LG G5 will sport a "Magic Slot," serving as an expansion for hardware. If this is proven true, G5 users will be able to have an additional hardware option on their device via the expansion slot -- a physical keyboard, action cams, and third-party speakers, for example.