Reports claimed that the rumoured Samsung Galaxy Note 3 will be released soon.

One of the best indications of the outing of the said product is the decline on the price of its predecessor.

Samsung's latest phablet, Galaxy Note 2, is experiencing a decline in price as its successor is bound for release later this year. Since early this year, the price of Samsung Galaxy Note 2 started dropping due to the release of new smartphones from Samsung such as the Galaxy S4.

Samsung Galaxy Note 3 is expected to make its debut in the third quarter of this year. Rumours point to possible September release date. There are speculations that Samsung will hold the announcement of the Note 3 on the annual IFA event in Berlin. The said launch will allow Samsung to maximize its profits and to complete the tried-and-tested September product cycle of the Galaxy Note series.

Some of the rumoured specs and features of the Samsung Galaxy Note 3 are: 6.3-inch Full HD screen display; unbreakable, flexible screen; 8-core Exynos 5 Octa processor chip; stylus And finger hovering feature; Android 5.0 Key Lime Pie OS; 16 megapixel rear camera with auto focus, LED flash and BSI and 3 megapixel front camera with 'Best Photo,' 'Best Faces,' low light show and BSI; 32, 64 and 128 GB internal memory options expandable storage via microSD cards; 4,000 mAh Li-on battery.

However, Samsung's spokesperson said that the company does not comment on rumours.

Below are the top five reasons why you should upgrade to the upcoming Samsung Galaxy Note 3.

Better and Larger Screen Display - The Samsung Galaxy Note 3 is speculated to have a higher resolution display would ensure the phablets success; it could have a full HD display of more than 300ppi. The size of the display could be increased from 5.5 inches to 5.9 or even 6 inches.

Faster Processor - There has been talks about the Qualcomm Snapdragon 800 quad core. If this rumour proved to be true, it would be great.

Storage Capabilities - The storage of the Note 3 is rumoured to be increased and the SD card should have the option to be able to store apps on it.

Improved S-Pen - It is reported that the S-Pen of Samsung's phablet will receive a facelift and will have new capabilities.

Better Camera - There was talk about optical image stabilisation on the Samsung Galaxy Note 3 and thanks to recent reports from those inside the industry, this could end up becoming reality. We have also heard about the chance of 3X optical zoom, but these rumours do seem to have died off. The Samsung Galaxy Note 3 could have a camera of 13 megapixels on the back though.