A previous rumour said the G2 would be so thin it wouldn't be able to fit buttons on the top and side, so this seems a logical compromise. I'm not sure how it will work in practice, though.
LG has sent out invitations to a press event on 7 August, where it's expected to announce the handset.
It sounds like quite a beast too, if the specs given to TechTastic are to be believed. We're looking at a 5.5-inch 1080p screen, Snapdragon 800 processor (LG has already confirmed this one) running at 2.3GHz, an Adreno 330 GPU, 2GB of RAM, and a 13-megapixel camera. It's expected to run Android 4.2.2 Jelly Bean, with LG's own Optimus UI slathered over the top of it.
Those buttons on the back are the most intriguing part though. Could it be like the PS Vita, with its touchpad on the back? Consider my interest thoroughly piqued.
LG has another couple of smart phones up its sleeve for 7 August as well. The Optimus L9 II is expected to touch down, with a 4.7-inch 720p screen, 1.4GHz Qualcomm Snapdragon 400 processor, 8-megapixel camera, NFC, and Android 4.1.2 Jelly Bean. The LG-D500 is also said to be making an appearance, with a 1.2GHz Qualcomm Snapdragon 200 processor, Adreno 302 GPU, 540x960 display, NFC, a 5-megapixel camera, and Android 4.1.2 Jelly Bean.
All eyes on 7 August then. We'll be on hand to bring you all the news as it breaks, as well as any more rumours leading up to the event. What do you want to see from the Optimus G2? And would you want buttons on the back of the device? Let me know in the comments, or on Facebook.