LG Electronics is poised to launch its latest flagship smartphone, the LG G2.

The South Korean tech giant will unveil the handset at a press event in New York on Aug. 7, and customers in Korea will be able to purchase the handset the following day, according to industry sources.

The price has not yet been fixed as the company is still in discussion with telecom operators, but it is expected to be around 950,000 won ($850), similar to the price of Galaxy S4 LTE-A which costs 954,800 won.

The G2 will run on the Snapdragon 800 processor which makes it capable of speeding up to 150 Mbps through LTE-Advanced technology.

The display will be 5.2 inches and LG said the design factors would be unique. For instance, most of the keys including the power button are placed on the back of the phone.

The power and volume buttons also are installed on the back. 

LG Electronics said it has already secured some 100 mobile carriers worldwide to sell the products, including AT&T, Sprint, Verizon, T-Mobile and NTT Docomo.

(shinjh@heraldcorp.com)