LG G7 One has the outside of a G7, inside of a V30, and runs Android One

LG finds success in using its well-known brands and design language from its high-end phones across a variety of lower-end models, focusing on the value and price-conscious buyers. In its latest attempt, LG is announcing two new LG G7 models — the LG G7 One and LG G7 Fit — with a similar design and brand, but different software and internals focused on differentiating and cutting costs.

The much more interesting of the two is the LG G7 One, which as the name implies is an Android One phone — LG's first running the software. That means it drops the ThinQ brand and all of LG's software customization, which a lot of people will see as a plus. The G7 One has the same metal-and-glass hardware, along with its core features like IP68 resistance, quad DAC, 3000mAh battery, SD card slot, boombox speaker and 6.1-inch QHD+ display. LG hasn't said it's the exact same display, but all of the specs and messaging indicates that it would be the same as the original LG G7.

If the price is right, LG could have a hit on its hands with the LG G7 One.

LG made some ... interesting decisions on where to cut corners to drop the price, though. The G7 One has a step-down Snapdragon 835 processor and 32GB of storage — though with Android One (8.1 Oreo, by the way) on board you would hope performance wouldn't really take a hit. And just like other Android One phones, LG is making a commitment to having security and platform updates out consistently and extensively. It also says that it will be adding in its AI Cam features later this year, but the phone has dropped the beloved wide-angle rear camera.

Now let's talk about the LG G7 Fit, which is a much more traditional LG approach to a mid-range version of its high-end phone. Once again it has the same basic external hardware design, same display, IP68 resistance, quad DAC, 3000mAh battery, SD card slot and boombox speaker. But the costs cut back the processor to the Snapdragon 821, which is the same processor in the LG G6 — and even at that time, it was considered past its prime. Once again there's 4GB of RAM here, and either 32 or 64GB of storage. LG also cut way back on the rear cameras, dropping the wide-angle sensor and moving to a main 16MP camera with an f/2.2 lens ... and presumably a step-down sensor.

Per usual LG doesn't have pricing or availability information just yet, but the LG G7 One could be extremely interesting if the price is palatable. If LG can offer this level of hardware with that clean Android One software for less than the OnePlus 6, it could have a hit on its hands.