At the CES 2016 held in January, Lenovo made the announcement that it is teaming up with Google to develop an augmented reality smartphone.

The smartphone will be the first consumer mobile device that will incorporate Google's Project Tango, which is a platform that uses consumer vision, depth sensing and motion tracking to create on-screen 3D experiences.

The result would be a smartphone that will allow users to transform the rooms where they are in into a game level, or a shopping mall where they can walk through to look for a specific item, for example.

A month later at the ongoing 2016 Mobile World Congress, Lenovo CEO Yang Yuanqing revealed that the Project Tango smartphone will be hitting the shelves in July, which is more specific than the previously known information that the device will be released within the summer.

In addition, Yuanqing said that the Project Tango smartphone will be pushed in "mature markets," as the device manufacturer looks to establish a more prominent presence in these markets.

"If you want to access the mature markets you need two things: innovative products and a premium brand," Yuanqing said, adding that the company has so far haven't done well in the two aspects. However, with the work that it has done for the Project Tango smartphone, the Lenovo CEO believes that the company is finally ready to break through into these markets this year.

Yuanqing, however, did not reveal any more information regarding the Project Tango smartphone.

It is previously known that the device will have a size of less than 6.5 inches and will be powered by a Qualcomm Snapdragon chipset. It will also be packing a depth camera, a fisheye lens and an RGB camera.

The smartphone is an important one as it could start the change on how users perceive and interact with their environment, as Project Tango does not have the limitations of Wi-Fi mapping, Bluetooth beacons and GPS, which primarily function outdoors.

The Project Tango smartphone by Lenovo and Google will carry a price tag of $500 upon its release.

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