LG is currently working on its next flagship smartphone and a successor to the LG G4, the LG G5. While we have heard a few rumors about the phone, here is a report coming from VentureBeat citing sources familiar to the matter which points about a lot of things from the LG G5.

The report mentions that the LG G5 will sport a 5.3-inch Quad HD display along with secondary ticker display which was first introduced with the LG V10. The 160×1040 pixels secondary display is also expected to make its way to a number of phones to be launched by LG next year.

The LG G5 is also said to come with a dual rear camera module. It will have a 16MP primary camera with 135-degree wide-angle capability. Additionally, “In between the two lenses is a circle with a quartet of elements in a square configuration, according to the briefed individual, who was also shown images of the upcoming flagship. Two of those are LED flash bulbs, while another one is a laser for assisting with autofocus, first deployed on 2014’s LG G3. The fourth element is also found on G4: a so-called RGB sensor to further assist with autofocus and other scene-recognition functions.”

One of the new and interesting features to come in the LG G5 is said to be something called Magic Slot. The details of the feature is not clearly known but it has been described in the report as, “it is said to enable some functional expansion by way of hardware modules. The examples we were given range from an array of specified cameras — action, 360 VR, “party” — to an audio amplifier to a physical keyboard.”

In other features, the LG G5 will be powered by a Qualcomm Snapdragon 820 chipset coupled with 3GB RAM and 32GB of internal storage. Interestingly, the phone will have a lower 2800mAh battery as compared to LG G4’s 3000mAh. It will also feature a fingerprint scanner while there is no information over the presence of an iris scanner which has been rumored in various previous rumors.