The former Blackpool wide man, 23, has started just one Premier League game since the start of October for QPR, and he was hauled off after just 59 minutes in that game, a 3-1 defeat to Everton in December.
With just 511 minutes of league action under his belt this season, it seems assured that the Scotland international will be leaving Loftus Road this month in search of first team action.
He may have reportedly snubbed a move to Wigan Athletic in exchange for Shaun Maloney, but there is still interest in Phillips, with West Brom allegedly joining the race for his signature.
The Daily Mail report that West Brom boss Tony Pulis is desperate for a new winger, and with little progress in his bids to sign Nottingham Forest's Michail Antonio and Wigan Athletic's Callum McManaman, Phillips is now on the radar.
It may be something of an underwhelming move for Baggies fans considering how little action Phillips has seen this season, but supporters should maybe consider the way Phillips starred in the Premier League for Blackpool back in the 2010/11 season.
He may have only scored once for the Tangerines, but his pace down the flanks was a constant menace, and Pulis must be confident that he can restore that form with Phillips considering this surprise link.