With less than a week after the LG G4 was released, new reports suggest that Korea's second-biggest mobile manufacturer could already be developing a new version of its just launched flagship smartphone. LG had launched its new G4 flagship smartphone at a press event held in New York City on April 28. LG's new Android 5.1 smartphone promises a better camera experience, improved display and fashionable design elements, including an all-leather option. The LG G4 also boasts of significant improvements over the company's G3, which was very well-received after its release last year.

Now details of a new smartphone alleged to be the LG G4C have been leaked on a Dutch retail site Centralpoint, indicating that a cheaper version of the LG G4 could be soon available. There could be a smaller version of the LG G4 in the offing, as mobile OEMs such as Samsung and LG have earlier released a smaller version of their flagship phones. The design of these "mini" versions of flagship phones usually resembles that of the larger phone, though their specifications are often close to those of a mid-range device, but could retain some of the top of the line hardware in the flagship model.

LG's G series have always included the flagship and a smaller version, which is usually announced a few months after the release of the larger model. For instance, the LG G3 Mini retains the laser autofocus for the camera similar to the flagship LG G3. There are no hardware specifications available of the LG G4C (model number LG-H525N) on the Dutch retailer's website, but since it is alleged to be a smaller version of the flagship LG G4, the handset could pack less powerful specs.

According to LG, the vegetable-tanned leather back of the LG G4 is a luxury offering and consumers won't mind paying a premium for it. This makes it possible that LG is offering a more toned-down LG G4C to woo buyers who aren't willing to pay a premium for the LG G4. The LG G4C will reportedly be launched on May 12 at a price of about $330.