CNBC understands that the LG G6 will be made with metal and glass and feature a 5.7-inch display, which takes up most of the smartphone reducing the size of the bezel. Smaller bezels appear to be an emerging trend. Last year, Xiaomi unveiled a concept phone called the Mi Mix which had a 91.3 percent screen-to-body ratio, while numerous leaks around the upcoming Samsung S8 appear to show it having a very small bezels.
LG declined to comment on the leak when contacted by CNBC.
The South Korean firm will be hoping to fill the void left by its fiercest rival Samsung at the Mobile World Congress. Samsung usually unveils its flagship device at the trade show, but mobile chief Koh Dong-jin said earlier this week that the S8 would be delayed.
Last year, LG took the wraps off a modular G5 smartphone which allowed users to change parts of the handset, but this didn't take off. LG will find it tough to take market share in what is becoming an increasingly tough smartphone market with Samsung, Huawei and Apple dominating the high-end of the space, and Chinese players like Oppo and Vivo grabbing share in the mid-tier.
"Even if this is one of the best devices at MWC, I don't see it changing the fortunes for LG," Francisco Jeronimo, research director for European mobile devices at IDC, told CNBC by phone.
"What's been difficult for LG is growing the brand awareness that drives the demand from consumers."