LG on Monday unveiled its plan to launch the new V series, V20, in September, with no specific timeline included. "The V20 is designed to offer optimum multimedia experience for users," said an LG Electronics spokesman.

The company said that the new handset comes with the latest Android operating system (OS), Android 7.0 Nougat.

The LG mobile chief said in the statement: "The V20 is our first device to equip the up-to-date Android OS." He said the company hopes to set a new standard for the premium device market with the enhanced multimedia functionality of the V20.

Late last month, the company said in a regulatory filing that it will strengthen functionalities in video and audio for its new V series, as the V10 previously won favorable market responses for its dual-selfie camera and dual-screen.

The first half of the year has been challenging for LG Electronics' mobile unit, with its modular handset - the G5 - failing to reach the sales expected.

In early July, LG Electronics announced its corporate reshuffle, replacing some executives in its mobile communication (MC) division. The move came as the firm hoped to give fresh momentum to the ailing mobile unit following the poor performance of the new flagship smartphone.

Rival Samsung Electronics plans to launch its new premium handset - Galaxy Note 7 - in New York, Tuesday. Apple's new iPhone series will also reportedly be unveiled in September.