With the recent mishap concerning the latest Samsung Galaxy Note 7, LG is met with the opportunity to tap into the market of disappointed smartphone fans with the release of the "LG V20."

According to early posts about the phone from sample units it sent out to tech reviewers, the phone fared well against the Note 7. 

The "LG V20" features a 5.7 inch IPS Quantum screen, a 16-megapixel main camera, and 5-megapixel front camera. It also has a quad-DAC, quad rear camera, removable battery, and will be the first phone to feature Android Nougat upon its launching.

ZDNet reviewer Matthew Miller said that this gives an indication on when it will come out and it gives the phone a distinct advantage of sporting the new features being offered by Google.

"With Android Nougat on the "LG V20", we see the new functionality from Google to search for content within your apps. I'm enjoying using this with people to see my calls, texts, and emails all associated with that person. The potential for this deep-search capability is rather fascinating," he said.

In terms of multimedia, the "LG V20" is expected to feature wired audio with a built in hi-fidelity digital analog coverter which will make listening to music a more fun experience for music aficionados. The phone will also feature the "Steady Record" feature, which helps stabilize images shot and recorded from the phone.

In terms of performance, fans will be happy to know that the phone will be powered by Qualcomm's Snapdragon 820 CPU and use 4 GB of RAM. It will feature storage of 64 GB, as well as microSD support.

It will also use a removable battery similar to the "LG G5", and incorporate a USB Type-C, fingerprint scanner, x12 LTE, and Wi-Fi connectivity support, University Herald reported.