(Pocket-lint) - LG is planning to release a new smartphone, choosing not to stick to the existing naming structure it has, but moving to something completely new - LG Velvet.

The move is designed to recreate the excitement around former LG phones, like the LG Chocolate, and sees LG step away from the smartphone sausage factory, where new models replace the former with incremental differences in a seemingly endless process.

When LG didn't announce the LG G9, this is probably what was going on - why continue to push the G and V models in a competing space, when there's the chance to do something else?

LG Velvet is that something else and thanks to a teaser video, we have now had a good look at what this phone is going to offer. LG previously talked about a softer design, about symmetry and the "water drop" style of the cameras, but the biggest talking point is likely to be the logo that appear on the teaser video towards the end.

The important detail here is that the LG Velvet is sitting on the Qualcomm Snapdragon 765 and that means it integrates 5G. It means that rather than being a true flagship phone (which would have Snapdragon 865), it slips into the sub-flagship category, something that's growing in popularity.

In reality, using Snapdragon 765 should mean that LG can keep the price down, while the real difference in performance between Snapdragon 800 and Snapdragon 700 series hardware is now minimal - most people wouldn't even notice the difference. 

It also means that LG can offer 5G connectivity without the price soaring skywards - at least that's what we're hoping.

LG doesn't say much more about what this phone offers, but we can see that it's going to come in a range of colours - Illusion Sunset, Aurora White, Aurora Grey and Aurora Green.

There's a lot more to learn about LG Velvet an no clue as to when it will be officially launched, but with #comingsoon in the video description, we suspect we'll soon have all the details.

Writing by Chris Hall.