LG Electronics will hold a press event at this year's mobile expo in the Spanish city of Barcelona, where the company plans to announce its latest flagship smartphone - the G5. Last year, the LG Group's technology affiliate skipped the world's largest annual mobile convention, possibly in order to avoid being outshone by rival Samsung Electronics. But this year, it seems that LG feels ready to take on Samsung.

LG Electronics released its previous flagship handset, the G4, at the end of last April. Although the company claimed that the G4 was selling well, market analysts estimated that so far it has underperformed the G3 by more than half.

LG's vision for recovery is through focusing on high-end devices, such as the new V10.

LG's target, the Samsung Galaxy S7, is expected to have upgraded features in hardware and content but also minimal changed in its design. LG hopes that it will be a more affordable alternative to the Samsung S7.

Speaking of the S7, it is expected to pack high-end camera technology and faster in-house application processor.

The LG G5 will follow Samsung's move to make its body from metal. We should not expect to see an OLED screen, but LG says that the new model will offer an improved user experience and enhanced video streaming through a partnership with Netflix.