According to recent information, LG plans to release several versions of the upcoming LG G6 flagship, that will be less advanced but still- great for certain types of users.
The Korean company recently trademarked various G6 smartphone names, including: G6 Compact, G6 Lite, G6 Hybrid, G6 Prix, G6 Forte, G6 Fit, G6 Young, and G6 Sense. As you can understand not all of these names will be used, but still LG has a history when it comes to launching cheaper variants of its flagship phones, including the LG G5 SE, LG G3 s (essentially a mini G3), or the LG G Pro Lite.
According to the latest rumors, the LG G6 will be IP68 certified, equipped with a Snapdragon 821 SoC and a 5.7-inch, 1440 x 2880 pixels display. If we are to believe the trademarked photos above, a G6 Lite could be unveiled as well, sporting a low resolution display and perhaps a less powerful SoC. Also a G6 Compact model could be in the works, with a smaller 5.5 inch display and so on.
As always all of the above are just speculations at this time, but surely not impossible to happen.