Both LG and Samsung are gearing up to release new smartphones next month.

According to PC Mag, the two tech giants will have competing smartphones at the Mobile World Congress, or MWC, scheduled on Sunday, Feb. 21.

LG first announced the news via Twitter on Thursday, Jan. 14, saying that "Play begins" at 2 PM on Feb. 21. Qualcomm retweeted LG's post with the hashtag #Snapdragon820.

Samsung, on the other hand, hasn't confirmed the official time and date of its Samsung Unpacked event at the MWC, PG Mag reported. The occasion, however, is usually expected to take place around 7 PM that night.

There are speculations that the MWC is where the firm will be announcing the Galaxy S7, a device which will reportedly be equipped with a Snapdragon 820 in some of its units, according to results on the AnTuTu benchmark site, GSM Arena noted.

Both of these smartphones from Samsung & LG are expected to have fingerprint sensors under the screen and more powerful and adaptable antennas for improved reception, PC Mag further reported.

The Galaxy S7's link with Qualcomm's Snapdragon 820 may have been confirmed when news surfaced that Samsung will be using its 14nm factories to make the chipset, PC Mag added. The Snapdragon 820 follows the company's flagship Snapdragon 810, which was known for its not-so-stellar performance and overheating issues. Qualcomm lost the Galaxy S6 to Samsung's own Exynos chipset recently, while LG opted for a slower chip, the 808, for its G4 and V10 mobile devices.

Reclaiming their position in Samsung's products puts Qualcomm chips back into three out of the five best-selling smartphone manufacturers globally, which includes Samsung, Lenovo/Motorola, and Xiaomi, the news outlet listed. The deals also helps Qualcomm compete with rival Mediatek's new Helio line.

Samsung Galaxy S7 -- Specs

The Galaxy S7 will reportedly have a new camera setup equipped with a 12MP BRITECELL sensor on the back and a 5MP front-facing shooter, GSM Arena reported. The new camera is touted to have better performance in low-light and a broader dynamic range than the latest model out in the market.

Samsung Electronics to Manufacture New Qualcomm Chips

This week, Qualcomm announced that Samsung Electronics Co Ltd is the sole manufacturer of its new Snapdragon 820 chipset, a move that comes as a blow to competitor Taiwan Semiconductor Manufacturing Co Ltd, or TSMC.

Analysts estimated that Samsung and Qualcomm's deal is worth more than $1 billion, Reuters reported. The agreement is expected to boost Samsung's earnings, given that the firm has suffered profit losses last year due to low demand for its consumer electronics and components.