Details have appeared at China's Tenaa certification center, where a handset very similar to that of the G5 has appeared.
According to the leaked specs the G5 Lite sports the same size 5.3-inch display, but on the inside it houses a Snapdragon 652 processor, Andreno 510 GPU and 3GB of RAM.
That's not a bad line-up of specs, and means the handset should deliver a decent level of performance, but it's certainly not as powerful as the G5 with its 820 chip, 530 GPU and 4GB of RAM.
If the report is correct there's good news in the camera department, with the LG G5 Lite tipped to feature the dual camera setup of its big brother with 16MP and 8MP rear sensors.
To round off the specs it's also said to house 32GB of internal storage and run Android 6.0 Marshmallow.
There's no word on a LG G5 Lite release date yet, while availability could be confined to regions which won't get the core G5, such as Latin America, as well as China.
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John joined TechRadar over a decade ago as Staff Writer for Phones, and over the years has built up a vast knowledge of the tech industry. He's interviewed CEOs from some of the world's biggest tech firms, visited their HQs and has appeared on live TV and radio, including Sky News, BBC News, BBC World News, Al Jazeera, LBC and BBC Radio 4. Originally specializing in phones, tablets and wearables, John is now TechRadar's resident automotive expert, reviewing the latest and greatest EVs and PHEVs on the market. John also looks after the day-to-day running of the site.