On the back of the phone will be a 16MP camera with a second lens on the back. This will give the camera the capability to snap 135-degree wide-angle pictures. There will be a dual LED flash along with a laser autofocus. An 8MP front-facing camera will shoot selfies and handle video chats while a fingerprint sensor will be on the back. The design will be similar to the fingerprint reader that adorns the rear of the Nexus 5X.
Under the hood is the Snapdragon 820 chipset, which features a quad-core CPU and the Adreno 530 GPU. 3GB of RAM will be inside along with 32GB of internal storage. It is unclear whether a microSD slot will be available. The 3400mAh battery on the LG G4 will be replaced with a 2800mAh power plant on the LG G5. But it is thought that the Snapdragon 820 SoC will be more efficient than past chipsets, and combined with the Doze feature on Android 6.0 (which expands standby time by putting apps to sleep when the phone is inactive), the smaller capacity battery will last longer.
A new feature called the "Magic Slot" will allow users to expand the capabilities of certain hardware on the phone. For example, users will be able to give the rear camera the ability to shoot 360 degree photos, use a physical QWERTY keyboard with the phone, and more.
So far, the only information we have about a release date is that we should expect the device to launch sometime next quarter.