According to Engadget, even though LG doesn't make smartphones anymore, their Innotek branch still provides components for other companies, similar to Samsung.
Innotek claims that this module can achieve the impossible for smartphone cameras. They claim it can retain full image quality at any level of zoom, while being smaller than most smartphone camera modules.
The new module is set to be debuted at CES 2023 this coming January. According to Forbes, it will also have optical image stabilization, or OIS. They also say that the camera module "deploys a ‘true’ optical zoom lens - one that uses mechanical moving parts to adjust its magnification seamlessly from near to far in a similar manner to zoom lenses typically used with DSLR or mirrorless cameras."
The upgrade that makes this module so exciting is that, unlike normal smartphones, like the Pixel 7 Pro, where they combine it's optical zoom with digital zoom, this module uses exclusively optical zoom.