The LG V60 ThinQ 5G may have just appeared, but LG is already thinking about its next move to set itself apart from the rest of the smartphone crowd. And it's going to be something quite different from the company's recent lineup of devices.

LG has teased the debut of the LG Velvet. The Korean firm says the new model marks the beginning of a new product roadmap that will emphasize "distinctive design and 'tactile' elegance."

Instead, LG is emphasizing the minimalist look of its upcoming phone, with a particular focus on the Velvet's camera array. Unlike the bulky square arrays currently found on the backs of the Galaxy S20 series, iPhone 11 Pro, and Pixel 4, the LG Velvet features a series of downward-facing lenses that the phone maker says take up less space.

The three lenses begin in the upper left corner of the LG Velvet and descend with each size. The largest main lens protrudes from the back of the phone, while the other cameras are below the glass surface.

The LG Velvet also features a curved display edge, which LG describes as a 3D arc design. This should make LG's next phone easier to grip, the company said.

With Velvet, LG says it is trying to break away from the industry-wide practice of using alphanumeric names for its phones. Instead, LG says that the names of future phones will be more familiar and expressive, ideally communicating what to expect from a phone in a way that simply putting letters and numbers together cannot.

LG may not have stated the exact specs of the LG Velvet, but earlier reports from South Korea show a phone that closely resembles this newly designed model. That report, posted by Naver earlier this month, describes a successor to the LG G8 with a Snapdragon 7 series processor (possibly the Snapdragon 765 if LG intends to make a 5G phone) and a 6.7-inch to 6.9-inch display described.

The article mentions that the phone will have a total of four cameras, which could be considering the phone's front camera; Naver states that the phone will be priced around $700.