LG may have just launched the sleek and massive V10 smartphone but rumor has it that the South Korea-based tech firm's year is yet to end. In fact, the company is reportedly set to end 2015 with the release of an ultra-impressive and powerful handset, the long-rumored LG G5.

According to reports, the smartphone will be one of the first products to don Qualcomm Snapdragon 820 processor, which should help the device perform without a glitch. However, the chipset is expected to show up in handsets early next year.

The tech firm's current flagship, the LG G4, has Qualcomm Snapdragon 808 processor. Its latest offering has the same unit under the hood. Seeing that it hasn't utilized the newer Snapdragon 810, LG G5 could end up with this unit instead.

The 810 processor from Qualcomm however is notorious for its overheating problems, so it could either end up doing some tweaks in the chipset to help dissipate the heat or simply wait for the 820 processor. If it ends up being the latter, 2015 is an unlikely release for the LG G5.

Apart from talks on what's under the hood, the rumor mill is especially strident on the display side. It is being said that the LG G5 will feature a curved display. LG is said to be investing big on OLED displays for their bending capabilities and flexibility so it is possible the flagship will end up with it.

Speculations about the rest of the specs include a 5.6-inch True HD screen and an all-metal unibody, which gives it plus points for sophistication. A Touch ID feature will allegedly be on board too.

The LG G5 will purportedly sport an iris scanner as well and will be kept breathing by a hefty 4000-mAh battery. There will be three versions to choose from based on the storage configurations – 32 GB, 64 GB and 128GB.

Whether or not the tech world will see the LG G5 in all its glory this year remains a big mystery.