Previous rumors place LG's upcoming flagship, the G5, to be unveiled next year, maybe as early as February. Rumors suggest that the iteration will also serve as a blueprint for the next Google Nexus project by LG.

According to Yibada, rumors are already circulating that Google has plans to launch more Nexus flagships next year, and one of the most likely partners for the project is LG.

The company's successes with previous Nexus smartphones – the Nexus 4 in 2012, the Nexus 5 in 2013, and the recently released Nexus 5X – will result in future collaborations with the tech giant. Meanwhile, it is also stated by the industry follower that come 2016, LG might be looking into the G5 as a base model for the next Nexus.

It is unclear, however, if LG will retain most of the G5's rumored specs for a repurposed Nexus 2016 phone. If this will be the case, then the next LG Nexus will be a premium device rather than the above-average unit that the Nexus 5X was.

According to VCPost, the LG G5 will come out with a Snapdragon 820 processor, at least 3 GB of RAM, a 5.6-inch QHD display with 2K resolution, and monster cameras both on the back and the front. The LG G5 is also rumored to be released with at least a 3,500-mAh battery, more than adequate for its speculated specs.

Meanwhile, if the rumors are correct, then fans may see two new Nexus phones from the same manufacturers. According to speculations, Google is also thinking of continuing its partnership with China-based Huawei for another stab at a Nexus phone, based on their success with the Nexus 6P. In addition, it is also rumored that Huawei will be making its own Nexus 7 tablet.