LG has been quite busy this year, but the company is apparently not done yet: according to a new report, a new LG G Flex 2 is en route.

The original LG G Flex (see image above) launched last year with an innovative design that drew plenty of interest, although it may not have been as successful as the company likely hoped for.

News has now surfaced that an LG G Flex successor may be in the pipeline, getting ready to make its debut later this year. The LG G Flex 2 is reportedly in development right now and it will still sport a curved display like the original model, but it will come with a smaller form factor.

The original LG G Flex that launched last year sports a massive 6-inch display, which may not be to everyone's taste. LG said the curvature on the display and the handset's body made it comfortable despite its large size, but many were not convinced.

The folks over at Gizbot now claim to have some information on the LG G Flex successor, revealing that it will hit the market later this year to go up against Apple's new iPhone 6 Plus and Samsung's intriguing Galaxy Note Edge.

"A high-profile executive over at LG India has exclusively shared inside details around the G Flex 2 launch," Gizbot reports. "According to our source, the forthcoming G Flex 2 will be more 'compact compared to its processor [predecessor]; though the screen size largely remains unknown. The device might not come with a QHD display, but he used the term 'Better than Full HD.'"

As a reminder, the current LG G Flex sports a 6-inch curved screen with a 720p HD resolution and packs a quad-core Qualcomm Snapdragon 800 processor under the hood, clocked at 2.26GHz and paired with 2GB of RAM. Other specs include 32GB of internal storage capacity, a 13-megapixel rear camera, a 2.1-megapixel front shooter, and a 3,500 mAh battery. The handset launched with Android 4.2.2 Jelly Bean out of the box, but is upgradable to Android KitKat.

The LG G Flex 2 should sport notable improvements over its predecessor, but no other details are available at this point. According to Gizbot, the smartphone will launch in Korea at first, but will also hit the U.S. and India.