This doesn’t really come as a surprise given that just like Samsung, LG tends to launch two flagship smartphones a year, like they did this year with the LG G6 and the LG V30. Unfortunately not much is known about the LG G7 and what kind of specs it will pack, and more interesting is whether or not it will feature the Qualcomm Snapdragon 845, because earlier rumors have suggested that Samsung will have first dibs.
No word on when exactly in January the LG G7 will launch, but given that CES is taking place in the early part of January, that would probably be when, or at least that would be a good opportunity for LG to unveil the phone. In any case take it with a grain of salt for now, but if the rumors are true we should be able to expect some leaks and news in the coming weeks or months.