With the launch of Samsung Galaxy S6 and Galaxy S6 Edge over, latest rumors are focusing on the South Korean tech titan's upcoming flagship edition of its Note series handsets. According to the most recent rumors Samsung is unlikely to launch multiple variants of the Galaxy Note 5, which is speculated to succeed the Galaxy Note Edge.

Christian Today reports that different from 2014, Samsung may restrict itself to just one variant of the Galaxy Note 5 this year, with the handset featuring either a 2K or a 4K flat-screen Super AMOLED display. In addition, SamMobile reported that it is expected that the device will feature an Exynos 7422 processor that may possibly combine the CPU, GPU, RAM, storage and the modem on a single chip.

SamMobile claimed that an insider also told them that the South Korean tech giant is currently testing some units of the Galaxy Note 5 with a recently developed Exynos 7430 processor. However, right now Samsung does not have any plant to release the new chip to consumers because the component is still in the development and engineering phase.

Earler reports had claimed that Samsung might use Ultra HD (UHD) Super AMOLED panels in the Galaxy Note 5. In addition, these reports said that production of the UHD displays -having 2160x3840 pixel resolutions - is expected to commence in August. This would be followed by the launch of the device some time during this 2015 IFA consumer electronics trade show in Berlin in September.

As far as the device is concerned, there are rumors that the Galaxy Not 5 is presently being developed under the code name "Project Zen." According to SamMobile, the specifications of the device are unlikely to be high-end. The website also added that it could come with a 5.4-inch or 5.5-inch Super AMOLED dual-edge curved display.

It is also expected that the Galaxy Note 5 will come with an S Pen, a hexa-core Snapdragon 808 processor, 16GB storage, a 16-megapixel rear camera with optical image stabilization and an 8-megapixel front-facing camera.