Samsung Galaxy Note 5 Release Date, Specs & Rumors: Samsung to Unveil Next Note Flagship in August Ahead of Apple iPhone 6S?

Samsung is reportedly targeting to stay ahead in the smartphone race with an early launch of the Galaxy Note 5 in August of this year.

According to various sources, the South Korean tech firm is looking to beat the September launch of Apple's iPhone 6S.

This is not the first time that rumors about the Galaxy Note 5 coming in at an earlier date have emerged. Previously, it was reported that Samsung was planning on veering away from its traditional launch period to debut its next Note flagship device in July.

Typically, the company unveils the latest members of its Note line of devices in September during the annual IFA event held in Berlin. The Galaxy Note 4, for example, was introduced on September 3, 2014 and was officially released the following month.

Shortly after speculations about the July launch emerged, JK Shin, the president of Samsung Mobile, explained that the rumors are not true, according to GforGames.

This time, however, Reuters noted that Samsung wants to launch the Galaxy Note 5 in August as part of its efforts to bounce back from its disappointing 2014 earnings. According to the report, the company's profits from its smartphone department slumped last year. This was mainly due to a shortage in the supply for display screens that affected the production of the Galaxy S6.

By getting ahead of its direct competitor, which is the U.S.-based Apple, Samsung is hoping to gain an advantage in the smartphone market by launching a high-end device at an earlier date.

Samsung, however, has not yet released a statement to confirm or deny the rumors surrounding the Galaxy Note 5's August launch. But according to industry leaders, launching ahead of its competitors says a lot about Samsung's determination to boost its status in the market.

"I don't know how much the earlier launch will boost the company's average selling price for smartphones, but this suggests that Samsung will work hard to maintain its market share for the high-end market," Park Jung-hoon, the fund manager at South Korea's HDC Asset Management said according to Reuters.