Low-power wide-area network (LPWAN) technologies featuring long-range communication capability and low power consumption will be important for forming the Internet of Things (IoT) consisting of many geographically distributed objects. Among various appearing LPWAN technologies, LoRa has received the most research attention due to its open specifications and gateway infrastructures unlike the closed designs and/or managed gateway infrastructures of other LPWAN technologies. While existing studies on LoRa has focused on network connectivity and performance, accurate positioning of LoRa end devices is still largely an open issue. In this paper, we discuss and analyze the physical layer features of LoRa that are relevant to localization. Our discussions and analysis illustrate the opportunities and challenges in implementing LoRa-based localization.