The internet is abuzz with rumours of a mid-August launch for Galaxy Note 5 and Galaxy S6 Edge+, instead of the traditional IFA unveiling in Berlin in September.

The speculation is based on a recent report by The Korea Herald, which quotes a skeptical Park Kang-ho of Daishin Securities.

"Advancing the unveiling date may not help Samsung much to turn the tide and make up for its lacklustre sales performance in the second quarter of this year," the analyst reportedly said.

The analyst adds that Samsung plans to unveil its flagship phablet a bit earlier than anticipated to avoid direct competition with Apple's likely launch of iPhone 6S in September.

Both the Note 5 and S6 Edge+ are expected to go on sale on 21 August, according to some market watchers. This could mean that these devices "could eat away into the sales of each other," a market observer has said on condition of anonymity.

Galaxy A8
Galaxy Note 5 will have  thin bezels similar to that of the Galaxy A8   (Android Police) The Android Police

Coming to the specifications, both the devices are reportedly larger versions of the S6 and S6 Edge without support for microSD slots. The Note 5 is expected to come with an extremely thin bezel, along the lines of recently announced Galaxy A8, while its build quality will be identical to Samsung's Galaxy S6.

Both the Note 5 and S6 Edge+ will be powered by an Exynos 7420 processor and sport a 5.67in Super AMOLED QHD display. The former will debut 4GB RAM, while the latter is expected to settle with 3GB RAM.

Coming to storage options, the Note 5 is expected to retain the existing configuration from the Galaxy S6 line-up.

Citing insider information, SamMobile suggests the S Pen will bring in a few cosmetic and design changes, with the stylus looking more like a pen and matching the colour of the device.

The Note 5, like its predecessor, is expected to be available in silver, gold, black and white, but with an additional glass construction that enhances the look and feel of the device.

SamMobile also expects the debut of Samsung Pay in the US market, along with the official launch of these two devices.