The next flagship smartphone of LG Electronics which will launch next month will be named the LG Velvet, the company has revealed.

Last week the new phone was revealed first in an image rendering. The Korean company said it’s going to have a “falling raindrops” design, where its three rear cameras and LED flash are positioned by size in downward order. Meanwhile the phone’s sides will be curved symmetrically.

It will also be a “mass premium” model and will therefore be more affordable than rival flagship phones.

Also, the company said that LG would no longer use the brands G and V, with flagship phones after Velvet to have their own unique brands.

“Our new branding reflects current trends of addressing the unique personal tastes and emotions of the individual with a greater emphasis on design,”said Chang Ma, senior vice president of product strategy of LG’s mobile business, in a statement.

“It’s a more intuitive approach that we are confident will resonate with today’s consumers and help us to establish a clearer brand identity,” he added.

In 2013, LG launched the G model, and in 2015, the V series. The latest  iteration, the V60 ThinQ, was launched in US and Europe in March.

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