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The LG G5 SE is just the official name for the Snapdragon 652 variant

The LG G5 SE is simply the official name for the "lite" version of the LG G5 we already knew about that features the Snapdragon 652 rather than the Snapdragon 820.
By
April 12, 2016
LG G5 Tips n Tricks-1

You may have seen some overly excited claims being made for a new “beefier” LG G5 based on a couple of photos of the packaging for the LG G5 Quick Cover case that show it to be compatible with the LG G5 and LG G5 SE. Apparently because the name is similar to the iPhone SE, it was assumed that the G5 SE would also be a specs upgrade over the original. Not so fast: the LG G5 SE is simply the official name for the “lite” version of the LG G5 bound for Latin America, China and other regions that features the Snapdragon 652 rather than the Snapdragon 820.

LG G5 feature focus: modules and peripherals
Features

We already knew there would be a “watered down” LG G5 for certain markets with a different model number to the regular LG G5. Considering this device uses a less powerful processor and also has one less GB of RAM, it also made sense that it would require a different designation (as opposed to the equivalently powerful Exynos 8890 and Snapdragon 820 used in the Galaxy S7). We reached out to LG and have been told the LG G5 SE is indeed the LG G5 destined for these markets, not an unknown model and certainly not one one with upgraded specs (after all, how do you upgrade a current flagship that has barely even hit the market yet?).

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LG’s sales manager for Chile, Cristián Correa, had previously confirmed the existence of a modified LG G5 for Latin America and also noted that the LG 360 VR headset would not be available in the region, citing Latin America’s “lack of interest” in VR as the reasoning behind the decision. The LG G5 SE is also heading to China and the CIS region, although exact details are yet to be confirmed.

Will you put a case on your LG G5? Are you interested in the LG 360 VR?