The New Year is fast approaching, so that can only mean that a roster of new phones are just around the corner. The Taiwanese brand is rumored to release its next generation flagship, the LG G5, early next year.

This year alone, LG received massive success with the release of their current flagship, the LG G4. Rumors are now circulating regarding the LG G5 release date, as well as the LG G5 specs. LG has been known to surprise the smartphone world with brand new innovations and features. Next year should not be any different. Tech analysts already have some LG G5 rumors, even before the flagship has been officially announced.

In a report with Tech Times, the LG release date will most likely be in February of next year. This year alone, LG released the LG G4 in April and the LG V10 in October. Both devices proved to take the market by storm. The LG G5 is already expected to fill its predecessor's shoes. Knowing LG, it certainly will deliver.

The LG G5 will boast of a large 5.6-inch display with a gorgeous 1,440x 2,560 resolution, coming in at an approximate 525ppi.

Like many upcoming flagship phones, the LG G5 is rumored to be powered by Qualcomm's Snapdragon 820. The upcoming flagship will come packed with 4GB of RAM. The LG G5 will be fitted with a 3,500mAh battery pack that supports Fast Charge.

The handset's rear camera will reportedly have a 21-megapixel camera, equipped with laser autofocus. The LG G5's camera will be packed with other features, such as LED flash and OIS features, as well the ability to capture 4K videos. As for the device's front camera, it'll have an 8-megapixel camera that supports 1080p videos.

The LG G5 is also rumored to introduce a new innovation in phone security. The LG G5 will come equipped with an iris scanner, reminiscent of a James Bond movie. The iris scanner will be developed by IRIENCE, a biometrics company that is based in South Korea. It is also rumored that the LG G5 could have a fingerprint scanner at the back as well, GSM Arena reports.

LG is planning to get competitive and the rumored early release date in February 2016 is to take an aggressive stand against LG's closest rival, Samsung. The Taiwanese brand hasn't given any official announcements on the LG G5, so take all rumors with a grain of salt.