The much-anticipated phone that offers both 5G connectivity and a price that's cheaper than traditional flagships is coming to the U.S., after debuting overseas first.

No, not the OnePlus Nord, but the LG Velvet, a $599 5G phone that introduces a redesigned design and new naming convention to LG's flagship phone lineup The LG Velvet goes on sale tomorrow (July 22) in the US. It will go on sale, with AT&T selling it first; T-Mobile and Verizon will offer the Velvet later this summer.

The LG Velvet debuted in Korea in May, followed by a June launch in select European countries. In Korea, it cost 899,800 won (about $750). However, LG apparently adjusted the price to make it more affordable for U.S. shoppers. In fact, the LG Velvet will be one of the least expensive 5G-enabled phones available in this country, rivaling Samsung's Galaxy A71 5G at $599. [AT&T can further lower the price of the LG Velvet; AT&T is offering the phone for $10 per month on a 30-month installment plan when new to service on one of the carrier's unlimited data plans. This allows you to get the LG Velvet for half the price, and the savings will show up as billing credits over the 30 months.

The LG Velvet features a new design for an LG phone, supporting a curved 6.8-inch OLED screen with a 2460 x 1080 resolution in a 3D arc design. On the back of the phone are three rear-facing cameras arranged in raindrop style, with a 48-megapixel main sensor plus an 8MP ultra-wide-angle lens and a 5MP depth sensor.

LG Velvet colors include Aurora Gray, Aurora Silver, Aurora Red, and Pink White, but availability varies by carrier.

Internally, the Snapdragon 765G is included in the LG Velvet, which will be available in the US. This is the same processor found inside the much less expensive OnePlus Nord, but that phone is not currently scheduled for release in the U.S. The Snapdragon 765G is not Qualcomm's fastest processor, but it is solid performance optimized for gaming

. More importantly, the 765G has a 5G modem, which allows for faster network speeds where 5G signals are available. (The version of the LG Velvet that will later appear on Verizon will be able to connect to the carrier's mmWave-based 5G network, making it even faster)

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The best 5G phones have been quite expensive to date, with prices regularly approaching $1,000; this is expected to change later this year as more handset makers utilize Qualcomm's low-cost chipsets like the Snapdragon 765G. LG 5G phones cheaper than the Velvet are also on the horizon, but few will be able to compete with the phone's eye-catching new look.