With the Galaxy S6 and Galaxy Note 5 out of the way, Samsung can now begin focusing on its latest project.

As suggested by recent rumors, the South Korean tech firm is now preparing for the launch of the Galaxy S7.

For the new device, Samsung might once again break its own traditional release cycle by debuting the upcoming flagship handset at an earlier period, according to Droid Life.

Prior to the release of the Galaxy Note 5, Samsung followed a regular release cycle by launching the previous versions of its phablet series in September or October. However, for the Galaxy Note 5, the company decided to unveil it at an earlier date in August before its rivals, including Apple, launched their own devices.

It seems Samsung will execute the same strategy again with the Galaxy S7 by launching it in January, instead of the usual April release of its Galaxy S series devices. If this happens, then the device will most likely be released a few weeks later, probably sometime in February of next year.

However, some sources believe Samsung will introduce the Galaxy S7 in December before shipping it out to retailers in January of 2016.

As for its specs, Sam Mobile reported that two versions of the Galaxy S7 will be released by Samsung. The two were given the codenames Hero and Hero 2. It is not yet clear which model will sport the flat display and which variant will feature the dual-edge curved screen.

For the upcoming flagship device, Samsung will reportedly bring back its partnership with the chip-maker Qualcomm. According to reports, one version will be powered by the next-generation Snapdragon 820 processor from Qualcomm while the other one will run on an equally-powerful chipset from Samsung's Exynos line.

Other details of the Galaxy S7 are still unclear but rumors suggest it will come with either a 20-megapixel main shooter or a dual-lens camera, Techno Buffalo has learned. It is also expected to come with microSD support which points to an expandable internal storage.

Samsung has not yet announced the pricing and availability of the upcoming smartphone but according to the report from Sam Mobile, it will debut in various regions including Canada, China, Europe, South Korea and the U.S.

It will debut through the various network carriers such as Bell Mobility, KT, LG Uplus, SKTelecom, Cricket, AT&T, Metro PCS, Sprint, T-Mobile, US Cellular and Verizon,