Electronics company LG is looking to move ahead of its competitors by providing a superb multimedia experience with its upcoming flagship phone, V30, which will feature the first ever FullVision organic light-emitting diode (OLED) display.

The news was officially confirmed through the company's website on Thursday. "Expertise in OLED has long been a core competency of LG, and the technology has always been seen as a potential value-add for smartphones," said Juno Cho, president of LG Electronics Mobile Communications Company.

"With competition in the global smartphone space fiercer now than ever, we felt that this was the right time to reintroduce OLED displays in our mobile products," he added.

The design is consistent with LG's strategy of focusing on innovation and quality of smartphone displays, which started with the launch of the LG G6 and continued with the LG Q6. The new device also follows the FullVision design of its predecessors, which means it will come with curved corners, an 18:9 aspect ratio and a pixel resolution of 2880 x 1440.

In addition, the V30 will be sporting a six-inch screen, larger than the LG V20, while being housed in a smaller body, as the upcoming phone manages to make the display bezels even slimmer. Its upper and lower bezels are 20 and 50 percent thinner compared to the V20, respectively. 

When the V20 was launched last year, it offered some of the best audio quality in the market to date, and the V30 is expected not only to continue that trend, but provide advancements as well. The new device will have upgraded digital to analog converter (DAC). It will feature Advanced Quad DAC, an improved version of the DAC found in the V20. 

Incorporating OLED displays on its smartphone also shows that LG is seeking to extend its OLED leadership from the premium TV sector to the premium smartphone market.

This also shows how LG is looking forward to future opportunities, as OLED displays not only provide superb visuals, but are also the hardware of choice for advanced virtual reality technology, which is one of the key growth areas of today's smartphones.

The LG V30 will be announced on Aug. 31 and is expected to go on sale in September.