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The Lava V5 sports a 5.5 inch IPS LCD capacitive touch screen display with a screen resolution of 720 x 1280 pixels and 267 ppi screen density. The phone has dimensions measuring 151.9 x 76.7 x 8.3mm and weighing approximately 153.2 grams, along with a multi touch feature, and Corning Gorilla Glass 3 for added protection.

 On the media front of the phone, the Lava V5 features a 13 mega pixels primary camera with LED flash, auto focus, geo tagging and a 8 mega pixels secondary camera, and comes with an internal storage capacity of 16 GB, which could be further expanded up to 32 GB via a microSD card.

The Lava V5 operates on the Android 5.1.1 Lollipop platform (upgradable to Android Marshmallow v6.0) and is equipped with a quad core 1.3 GHz Cortex A3 processor, a Mali T720MP2 GPU, along with a MediaTek MT6735 chipset and a 3 GB of RAM.

The Lava V5 offers Wi Fi, Bluetooth 4.1, GPS, dual SIM, dual standby, USB OTG and FM Radio, connectivity options

The Lava V5 is powered by a removable Li Ion 3,000 mAh battery, which facilitates a stand by time of up to 260 hours and a talk time of up to 27 hours 17 minutes (2G) and 28 hours (3G). The Lava V5 would be available in only White color.