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Bluetooth 5 sensor device and Bluetooth 4.0 smarthphone compatibility

Other Parts Discussed in Thread: CC2541, CC2640R2F, BLE-STACK

Hi,

 I want to develop a product with Bluetooth 5 capability, before starting development i wanted to know will the Bluetooth 5 devices(Peripheral) will be compatible with ble 4.0 smartphone(central)? will the ble 4.0 smartphone able to connect Bluetooth 5 device and communicate with each other to exchange the data packets..

Looking forward to reply from you!

Thanks in advance.