There has been quite a lot of talk about the LG G5, all pointing to a formidable specs sheet allegedly being prepared for the flagship. Rumor has it that the smartphone from the South Korea-based tech firm will be fitted with the Qualcomm Snapdragon 820 processor.

This unit is much powerful than the Snapdragon 810, which majority of flagships and premium devices are equipped with. The chipset should facilitate immense processing power especially with a reported 4 GB RAM on board.

Despite reports that smartphones with the Snapdragon 820 chipset will only start to arrive early next year, speculations hint that the LG G5 with the said chipset will be released this month or the next. If this is to happen, the flagship should be the first ever device to house the new-gen SoC.

The LG G5 will allegedly come in three storage options, with the entry level offering 32 GB of space, the average at 64GB and the biggest of the bunch putting out a massive 128GB. Interestingly, word on the street is that it will come with a much bigger and powerful counterpart called the LG G5 Pro.

On the imaging side of things, the flagship is expected to sport a 20-MP camera that's capable of shooting 4K videos. Taking it a step further, LG will allegedly integrate a 10-MP front-facing shooter on the front of the device that will apparently double as an iris scanner.

At the moment, the standard biometric security technology used on smartphones and tablets is a fingerprint scanner. There are only a few out there with an iris scanner, making the LG G5 extra special when it releases with it.

Users will get to enjoy all these specs and features for hours, thanks to the handset's grand 4,000-mAh battery, which should keep it alive long enough. The device is expected to take on a $900 price tag when it is made officially available.