LG is starting the year right in 2016, with a new entry level smartphone running on top-tier specs. The smartphone is dubbed as the LG K7 and will be released in early 2016.

In a report with Tech Times, the upcoming entry-level smartphone is rumored to run on Qualcomm Snapdragon 210 processor that is clocked at 1.1GHz and 1.5 GB of RAM. The LG K7 is also said to include 8 GB of internal storage. Should these rumors be true, the LG K7 is expected to include a microSD card slot.

The LG K7 will also include a 5MP front-facing camera as well as a 5MP rear-facing camera.

The upcoming smartphone will also support 4G LTE, Wi-Fi, Bluetooth, GPS, as well as microUSB. The upcoming LG K7 will reportedly run on an Android 5.1 Lollipop operating system fresh out of the box.

The LG K7 should fetch a price tag of $200, perhaps even $150 being an entry-level phone. This is a good idea for parents who want to give their children their first smartphone, but do not want to give them a high end phone. The Taiwanese company has been known to deliver excellent quality when it comes to smartphones. LG has been learning from its mistakes over the years and has found success in its flagships such as the LG G3 and LG G4. 

While initially known to develop appliances, the Taiwanese brand has since then ventured to greater things, like the smartphone market. The LG G4 has been praised by many tech analysts as well as Android fans. LG's latest flagship has earned good reviews from sites all over the internet. It comes as no surprise that the LG K7 should be a success as well. 

The LG K7 is also expected to be launched on T-Mobile in the United States. In previous years, T-Mobile offered several entry-to-mid level LG smartphones, including LG G Stylo, LG Optimus F3Q and LG Leon LTE

Android Community also teased that the LG K7 will feature a 5-inch display, with a 480 x 854 FWVGA resolution. While the specs of the LG K7 might not exactly be one of a flagship phone, the specs are good enough, especially for those who are looking for a good phone on a tight budget.

As of now, there is no word as to the smartphone's official release, although it is speculated that the LG K7 will be released in early 2016.