The company says today's the day it wraps up the transformation into a holding company for its numerous businesses.
The Korean electronics maker hopes the big V10 marks the start of a family of smartphones, akin to its G line.
The handset, known as the LG V10, comes at a time when companies are exploring new designs.
The payment company, which has been spun off by eBay, will trade on the Nasdaq under the same ticker symbol it used more than a decade ago.
The new smartphone features an independent second screen, while the smartwatch can be used as a phone.
LG's new V10 shows some second-screen restraint compared to the epic clunkers that came before.
The company will host an event at 8 a.m. PT/11 a.m. ET to introduce the devices. CNET will have an exclusive live-stream of it.
A leaked photo provides a clearer look at the alleged LG smartphone and its secondary ticker display.
Not sure if you want the iPhone 6S or 6S Plus, but you're ready for a new phone? Fear not. There are plenty of other big-name handsets launching in the next few weeks.
The unconventional smartphone, to be unveiled on 1 October in New York, will carry the South Korean electronics company's hopes for success with Android phones.