LG has confirmed that it is planning to expand its V series handsets with a new addition called V20 that would succeed the current V10. The company is prepping for a launch in September.
The official announcement comes soon after the company reported second quarter revenue of 584.6 billion won ($503.10m, £381.9m), which is about 140% higher than a year earlier in the previous quarter. The revenue growth was fuelled by the strong performance of LG Home Appliance and Air Solution and Home Entertainment companies. The Home Appliance and Air Solution firm accounted for the largest share of the second quarter's profit at 433.7bn won.
Premium products such as LG Signature collections, TWINWash system and LG Styler are expected to contribute more to the company's performance in future.
As for the mobile business, LG Mobile Communication Company saw a revenue increase of 3.33tn won to 12% over the first quarter, but declining from the same period last year. The company hopes that the launch of V20 and sales of K and X series models will improve the performance of the mobile business next quarter.
One of the key features of V20 is it will ship with Google's latest Android 7.0 Nougat on board and would be one of the first devices to run Nougat. This means Google will make the new Android iteration available for its Nexus series before the September timeline. Even Twitter leakstar evleaks believes Android Nougat with the latest security patch would be available this month.
LG said the V20 will pack a dual front selfie camera and a feature called Second Screen that will enhance the user's visual experience. In addition, the phone would be the first to have a built-in 32-bit DAC (Digital to Analog Converter).