LG is expected to announce its next-generation G Pro phablet later this year, and according to a new report, it’s going to bring stellar specifications. In addition to a 6-inch Quad HD display, the device could come with Qualcomm’s upcoming Snapdragon 820 processor.

MobiPicker, citing unnamed sources, claims the G Pro 3 has already entered production ahead of its release later this year, and it’s packing some incredibly high-end specifications that will put it ahead of rival flagships we’ve already seen this year in terms of performance.

Those specifications are said to include the Snapdragon 820, which will reportedly be clocked at around 3GHz, and will be manufactured using the cutting-edge 14-nanometer process. Not only will this make the chip faster, but it will also improve power efficiency.

The G Pro 3 is also expected to come with 4GB of RAM, 32GB of storage as standard — with a microSD card slot for expansion — and a 20.7-megapixel rear-facing camera. The device will also have a fingerprint scanner, MobiPicker reports, and will ship with Android 5.1 Lollipop.

LG’s existing G Pro 2 was announced at Mobile World Congress 2014 last February, so a refresh is long overdue now. But we don’t have a more specific release date for the G Pro 3 other than “later this year,” unfortunately.