Apparently, the device will be unveiled at the Samsung Mobile Unpacked event in Berlin two days ahead of the IFA show.
Though Samsung has chosen not to discuss the tablet till its release, earlier rumors point to a slightly larger 5.5-inch screen. The tablet would feature the same Nature UX Android customizations found on Galaxy S III, Reuters added.
Rumor has it that a faster processor and enhanced camera will also be featured in Note 2.
The operating system in all likelihood is the Android 4.0 Ice Cream Sandwich or the more recent Android 4.1 Jelly Bean. A report on The Next Web indicates that the earlier version of Galaxy Note has already recorded over 7 million unit sales in June.
The launch of the phablet gains significance as Apple is expected to launch its next generation iPhone and a smaller iPad device September 12 to take on Galaxy Note 2.
Besides, the two technology giants are fighting a high-pitched patent battle triggered by a suit in which Apple has claimed that Samsung has copied its smartphone and tablet designs.