LG Electronics Co., a South Korean smartphone maker, said Monday it plans to launch "the G Pro2" phablet in February, aiming to narrow the gap with industry leader Samsung Electronics Co.

LG's awaited phablet, a cross between a smartphone and tablet PC, is expected to feature a wider screen and faster speeds compared to its predecessor, the G Pro, industry sources said. The next model is equipped with a 6-inch screen and Qualcomm's Snapdragon 800 processor with 3GB RAM and is powered by Google's Android 4.4, according to the source.

The G Pro runs on Qualcomm Inc.'s 1.7 GHz quad-core Snapdragon 600 processor, with a 13-megapixel rear camera and a 2.1-megapixel front camera that can be used simultaneously for dual recording.

The 5.5-inch G Pro smartphone series hit local shelves in February last year and exceeded the 1-million sales mark at home turf in just four months after the release.

With the new launch, the company will have a premium smartphone line-up LG G and G2, as well as its phablet series of LG G Pro and G Pro 2.

Last year, the company also rolled out the G Flex, which has a 6-inch plastic organic light-emitting diode display that curves inward from top and bottom.

Samsung Electronics, LG's bigger rival, is also anticipated to roll out its next flagship line-up, presumably the Galaxy S5, around March and April this year. (Yonhap News)