As HTC’s original flagship device for 2015, called the “One M9,” has been struggling to make an impact, reportedly causing the company’s stock drop at a staggering pace, the company's CEO Cher Wang recently promised a new flagship model to be released later this year to counter the M9’s negative impact. According to a latest report, the new flagship device from the Taiwanese tech giant has been dubbed the “HTC O2.”

During the stockholders conference, Wang reportedly acknowledged that HTC is working on a device with an internal code name "Hero," which is expected to have top-of-the-shelf configurations. The handset will reportedly come powered by the upcoming Qualcomm Snapdragon 820 SoC, and could be manufactured under Samsung's 14 nm FinFET process. The chipset is also expected to come with four custom ARM based Hydra cores, guaranteeing faster performance.

In addition, the same chip will also likely help in enhancing the battery life of the handset. Unlike the infamous Snapdragon 810 chip, the successor will not have to deal with overheating problems, Phone Arena reported.

The icing on the cake, however, is the full-metal design of the HTC O2. Meanwhile, Xiaomi Today reported that the O2 could come backed by a killer 4 GB of RAM on board. In addition, the internal storage capacity and the microSD card expansion limit will be matching the recently released counterparts.

Some earlier rumors also pointed to a release date in October with Snapdragon 810 on board. However, the new leak points to the upcoming Snapdragon 820 and hence, the HTC O2 release date is expected to be in Q1 2016.