Samsung is planning to release the refurbished version of Galaxy Note 7 as early as next month, according to a report.

Yonhap news agency quoting unnamed industry sources reports that the refurbished model dubbed Galaxy Note FE would go on sale starting 7 July with a price around 700,000 won ($616 or £483).

The report also says the Note FE will have a battery smaller than the capacity of the original model that was pulled from the market amid reports of the device overheating and catching fire. The Note FE will have the latest software update.

Previous leak image had suggested the refurbished phone with model number SM-N935 might pack a 3,200mAh battery. The original Note 7 had a 3,500mAh battery.

In March, the company said it wanted to ensure the original Note 7 were recycled and processed in an environment-friendly manner. It was also considering removing salvageable components from the Note 7 for reuse and extract metals.

"Regarding the Galaxy Note 7 devices as refurbished phones or rental phones, applicability is dependent upon consultations with regulatory authorities and carriers as well as due consideration of local demand. The markets and release dates will be determined accordingly," Samsung in a statement had previously said.