After the recent launching of its Xperia Z3+ smartphone in the global market, Japanese multinational conglomerate Sony is reportedly preparing to launch the Xperia Z5 as its successor.

Recent reports have suggested that the Xperia Z5 would be unveiled in September but Sony has yet to confirm this. 

PC Advisor UK reports that the Xperia Z5 could be launched at the coming IFA 2015 event which takes place every September.

According to specs leaked by Technodify, the Xperia Z5 will have two versions: the Z5 Compact and the Z5 Ultra.

Rumors say the Xperia Z5 might come with a whopping 4500 mAh battery and will be powered by Qualcomm's Snapdragon 820 SoC processor, along with 4GB RAM. The Xperia Z3+ currently has a 2930 mAh battery, Qualcomm's Snapdragon 810 chipset, 3GB RAM and 32 GB internal memory storage.

While the Xperia Z3+ comes with a 20.7 mega pixel rear camera and a 5.1 mega pixel front-facing camera, the new Xperia Z5 is expected to have a slightly higher 21 mega pixel camera, Sony's Exmor RS IMX230 CMOS sensor, on the back that comes with HDR capability and enables 4K video recording, according to reports.

The Xperia Z3+ sports a 5.2-inch scratch resistant display screen with a 1080 x 1920 pixel resolution. For the new Z5, it's still unclear how large the screen will be, but LG is expected to offer both a mini and larger versions.

Rumors indicate that the Xperia Z5 handset will also feature a fingerprint recognition technology which might be located on the home button. Digital Trends reports that the new handset might also support a USB Type C connector and, like the previous Xperia models, will be based on the Ominbalance design.

Xperia is a family of smartphones and tablets from Sony. The phones have been manufactured since 2008, while the first tablet released under the brand was launched in 2011. Xperia is derived from the word "experience" and was first used in the Xperia X1 tagline, "I (Sony Ericsson) Xperia the best."