In the last few weeks, details regarding Samsung's upcoming Galaxy S7, S7 Edge, S7 Plus and S7 Edge Plus have been making tons of headlines. Now, it's time for LG to join Samsung, as a new report claims to reveal key specs of the G5 and a new "Magic Slot" that will be used for "hardware expansion."

LG has had a good run in 2015, and it appears as if the company's future is going to be even brighter, as reports are claiming Apple is very close to signing a deal with LG and Samsung to produce OLED displays for future iPhones.

LG has also made gains in the smartphone arena: with the company recently revealing its new LG V10 sold over 450,000 units in the U.S. in its first 45 days on sale, averaging 10,000 units sold each day. One of the V10's major features is now expected to make it to the company's next-generation LG G5 smartphone next year.

A new report from a reliable source provides some of the LG G5's key specs, in addition to a new "Magic Slot" that will reportedly allow users to install new hardware modules. PDA fans will remember Palm OS licensee Handspring, which sought to differentiate itself from Palm and other Palm OS licensees by including a "Springboard Expansion Slot" that allowed users to easily add hardware modules that turned the PDA into one of the first smartphones, while other popular modules included an mp3 player and GPS receiver. LG's implementation could mirror Apple's Smart Connector technology used in the iPad Pro and Smart Keyboard.

The LG G5 will reportedly feature 5.3-inch quad-HD display and include similar ticker display like the one found on the LG V10. The smartphone is expected to be powered by a Qualcomm Snapdragon 820 processor, 3 GB of RAM and 32 GB of internal storage.

The LG G5's camera capabilities will reportedly consist of a 16 megapixel rear camera with an RGB sensor and laser autofocus. Below the rear camera will be a fingerprint reader that will be used to unlock the device and authorize payments. The handset will retain the much-loved removable battery, which is said to be a 2,880 mAh power source.

We'll be sure to keep you posted on any additional LG G5 details as they become available.

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