Moto Z3 is the world's first 5G-upgradable smartphone, say Motorola and Verizon

The Moto Z3 release date is August 16, and that's also when you're be able to buy the world's first 5G-upgradable smartphone, according to Verizon and Motorola.

Moto Z3 will be able to tap into Verizon's budding 5G network with a forthcoming 5G Moto Mod accessory. We're currently in Chicago awaiting to see a hardware demo.

So far, we've seen the Moto Z3 smartphone, and when combined with the 5G Moto Mod, it should benefit from expanded bandwidth, higher speeds and lower latency.

Verizon is currently rolling out 5G residential broadband service in four US markets: Houston, Los Angeles, Sacramento and one additional city to be announced soon. 

It'll then move on to mobile 5G solutions in 2019. That's when we may see the Moto Mod 5G accessory launch, although Motorola hasn't said that just yet.

Moto Z3 5G phone: what's it all about

There's some good news and bad news about the Moto Z3. Moto's 2018 flagship phone doesn't look too different than the Moto Z3 Play, and the core specs haven't really changed from last year's Moto Z2 Force.

It does have a 6-inch 'borderless' Super AMOLED display, dual 12MP depth-sensing cameras with Google Lens software support, and makes full use of existing Moto Mods.

Exclusive to Verizon, this phone will get you a discount on a Moto Mod. Any mod that costs over $100 will be priced at just $50. So you'll be abel to get the Insta-Share Projector, Moto 360 Camera, or the Smart Speaker with Amazon Alexa for just $50.

Without a major specs change, the price has dropped significantly. It's just $20 a month for 24 months on Verizon's device payment plan and $480 at retail. It's cheaper than the Moto Z2 at $720 (about £550, AU$903), or $30 a month on contract.

The Moto Z3 will launch on August 16 in the US.

Matt Swider