One of the issues with last year's update of Android Lollipop, also known as Android 5.0 or Android L, was that it was very slow to roll out to even some of the newest Android devices. During the fall and holiday season last year, everyone was quick to ask: "where's my Lollipop Android 5.0 update?" Now it appears that with Android 5.1 getting a slow rollout, along with its update of Android 5.1.1. Here is an Android 5.1 Lollipop update for the LG G4, the LG G3, and the LG G2 along with their respective release dates for carriers like AT&T, Verizon, Sprint, and T-Mobile.
The good news is that if you have an LG G4, the newest flagship phone from LG, you should have your Android 5.1 right out of the box. According to a recent report from Tech Times, there are not any plans for Android 5.1.1 for the newest version of LG's flagship phone, and it plans to go straight to Android M. Then there was report on Gotta Be Mobile that it is possible for the LG G4 to get the 5.1.1 upgrade soon, if only to get rid of some of the bugs from the Android 5.1 upgrade.
Similar to the reports for the LG G4, it sounds like LG may not even push Android 5.1 for the LG G3, and might just wait for a timely update with Android M. The newest version of Android isn't scheduled to arrive until the holiday months later this year, so that would be a long wait. Also, last year's Lollipop took a while before it was rolled out to newer Android devices, so the forecast calls for waiting.
Android Authority recently stated that there was an update, with a labelled version of VS98524B, or simply 24B. This update is not really to 5.1 and 5.1.1, but it does include a few new features like Bluetooth button to the in-call screen. The Lollipop Interrupt feature form has also been implemented and notification scan now be set to completely off, priority mode for messages and events, or be allowed to sound.
Considering that the advice for LG G3 users is to wait for their Android 5.1 update, one can imagine that the advice for the LG G2 would be very much the same. Most of the word of the Android update for the LG G2 is over a month old, which probably means that there is going to be some kind of very slow rollout. There doesn't seem to be any confirmation of an Android 5.1 rollout available at all, honestly, according to Android Origin. This is different from a report from Phandroid that says an Android 5.1.1 update will be coming soon.
As you can see, a lot of the information of the Android 5.1 or 5.1.1 update to the LG G4, LG G3, and the LG G2 are mixed. It is possible that these devices will get their respective upgrades soon, but it is possible that it an upgrade to Android M will come before any of those other upgrades show up.