The rumors have been mounting up about LG's latest flagship smartphone and when we'll get to see it, but according to a new report, LG won't be showing the highly anticipated G4 at next month's Mobile World Congress after all.

Many experts believe that the MWC, held in Barcelona on March 1, is the place where most major device manufacturers would be showing off the latest models, but LG is only showing off four phones this year: the Magna, Spirit, Leon, and Joy.

According to an LG executive speaking with the Korea Times, the G4 just needs more time to simmer. "We rolled out the G3 in May last year so we do not plan to unveil the G4 at this year's Mobile World Congress and [will] spend more time perfecting the new phone."

While there's no definite time announced for the G4's release, speculation ranges from April to September.

The G4 is expected to feature a 5.3-inch display (some are even saying 5.7-inch) at 1440 x 2560 resolution, 4 GB RAM, 32/64 GB storage, a 3,500 mAh battery, and a quad-core 1.5 GHz Cortex-A53 and A57 processor. While no price has yet been announced, the G4 is expected to cost around $700 for the unlocked version.

As for the current LG G3, rumors started at the beginning of the month stating a projected release for Android 5.0 Lollipop on the G3 for February 16. While U.S. carriers missed that date by a little more than a week, the good news is that users on the AT&T, Sprint, and now Verizon networks are reporting Lollipop on their G3s.

LG, as with many other Android manufacturers, promised that users would start getting Android 5.0 Lollipop on all devices within 90 days of the software's release. That 90 time limit expired on February 3, but now it seems that most carriers have made the update not only to 5.0, but to the bug-fixing 5.0.1. No word on if the LG G3 will go all the way to 5.0.2 or not, but that patch is thought to mostly be made for Motorola and Nexus phones, anyway.

If you have an LG G3 and you have yet to make the update on the Sprint, At&T, or Verizon networks, you can do a manual check at Settings > System updates > Check for new system update > Check now.

The update is just over 600 MB, so make sure you have enough room on your device, and make sure you're either plugged in or charged over 50% for best results.

Android 5.0.1 Lollipop brings with it the new Material Design layout with enhanced notifications, improved battery life, support for Android TV, a more functional lock screen, enhanced app performance and more.