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May 31, 2017 11:27 AM EDT

LG's latest G6 Android smartphone has just rolled out in the market a few months ago. Nevertheless, new reports are now swirling about the tech giant's next handset, the LG G7.

Reports are mounting up on the internet claiming that LG is currently collaborating with Qualcomm on the next-gen Snapdragon 845 processor. LG and Qualcomm are reportedly working hard in developing the new chipset, Gadgets 360 reported.

It has been said that the Qualcomm Snapdragon 845 processor will utilize less power and will be more compact compared to the current Qualcomm 835 processor. The collaboration of the companies may be an essential step for the upcoming LG G7 smartphone. Nonetheless, the reason behind the less power consumption of Qualcomm's 845 chip could be the utilization of the latest 7nm construction process.

LG does not want to be left behind in the flagship rivalry next year, as the tech giant is planning to integrate Qualcomm's Snapdragon 845 processor in the LG G7 smartphone. Recently surfaced reports also claim that Qualcomm's Snapdragon 845 processor is expected to be 30% more powerful compared to the current-gen Qualcomm Snapdragon 835 SoC. The LG G7 smartphone could be one of the most powerful handsets if it really does come along with the Snapdragon 845, Deccan Chronicle reported.

The LG G7 smartphone is expected to be available with an OLED display. Other reports claim that LG's next flagship smartphone will have a waterproof and a fingerprint sensor feature.

There are no confirmations yet regarding LG G7's camera specs, but the upcoming device is expected to have a better camera feature than the LG G6 smartphone. Wherein, the LG G6 smartphone has a 13MP dual-lens camera along with a dual-LED flash, and a 5MP front snapper. That being the case, LG is expected to unveil the LG G7 smartphone during the Mobile World Congress (MWC) event in February 2018.

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