Feb 03, 2017 01:12 AM EST By Donna Mills, UniversityHerald Reporter

The LG G6 is launching at the Mobile World Congress (MWC) 2017 in Barcelona this month. There are signs pointing to another version of the device and it is going to be a cheaper and compact model.

The company's trademark applications for the product names LG G6 Compact, G6 Lite, G6 Hybrid, G6 Prix, G6 Forte, G6 Fit, G6 Young and G6 Sense have surfaced online recently, a Dutch news outlet reported via GSM Arena. However, some of those names like the G6 Fit and G6 Sense may be wearable fitness trackers than smartphones.

LG is known for introducing smaller and cheaper versions of their flagship smartphones in the past, such as the G5 Lite that was later called as LG G5 SE, and the LG V34 that is like a lighter model of the V20 mini. Other cheaper variants of LG's handsets are the LG G3 s and the LG G Pro Lite. It remains to be seen whether or not the LG G6 Compact will push through, but the odds are definitely in its favor.

The LG G6 is equipped with a Snapdragon 821 processor and a water-resistant feature. It has a 5.7-inch display with 1440 x 2880 pixels. It is possible that the device's Compact version will sport a smaller screen, and the Lite model will have the same screen size as its regular sibling but a different processor and a lower resolution, according to Phone Arena.

Other specs of the LG G6 include a 4 GB RAM, 3200 mAh battery, a 16-megapixel primary camera and an 8-megapixel front-facing snapper. Its 128 GB internal storage can be expanded via microSD.

The LG G6 will have either wireless charging or the Magnetic Secure Transmission (MST) technology for mobile payments, TrustedReviews reported (via Korean news outlet ETNews). MST emits a magnetic signal that resembles the magnetic strip found on a traditional payment card.

According to the report, the device's versions with wireless charging will hit international markets and will come with charging coils to enable the feature. The ones with MST, however, will only be released in South Korea. This is because the two models cater to the respective markets' different consumer needs.

It appears that there is not going to be an LG G6 version with both the MST and wireless charging. However, it is also possible that this would change sometime in the near future.

See Now: Covert Team Inside Newsweek Revealed as Key Players in False Human Trafficking Lawsuit