The Samsung Galaxy Note 4 has gone through a price cut. Usually, when a device gets a price cut, it means that a successor model is soon to arrive. Therefore, in this case, the Galaxy Note 5 release seems imminent.

According to reports, Samsung is gearing up to unveil the Galaxy Note 5 phablet in September or October.The upcoming device has reportedly been codenamed Project Noble. There is alos rumored to be an edge-display-clad version called Galaxy Note 5 Edge, codenamed Project Zero 2. These devices reportedly will be announced at the IFA 2015 show scheduled for Sept. 4-9 in Berlin, with formal release to begin in subsequent weeks, notes IBTimes UK.

With the price cut, the Galaxy Note 4 phablet can now be purchased for only $229 with a two-year contract via Amazon. The same device is available from Verizon for $299. Therefore, potential buyers can save $70 on this deal, notes Tech Times. However, the new Galaxy Note 4 price is available only on the 32 GB storage model. Buyers are given a choice between white and black colors, and can get the discounted device from Amazon. The Note 4 was released in October 2014 and is regarded as the best phablet in the Note series released thus far. Samsung has sold millions of Note 4 units.

As for Galaxy Note 5 specifications, the smartphone is believed to feature either a 5.4-inch or 5.5-inch Super AMOLED display. When it comes to camera configuration, the device will sport a killer 16 MP primary unit with OIS support and a gracious 8 MP front-facing snapper for selfies. Other key rumored features include 16 GB of in-built storage and 4 GB of RAM unit.

Know Your Mobile points out that the Note 5 will come equipped a superior processor unit assisted by a high-density EPOP memory. The memory unit of the device will reportedly house “3GB LPDDR3 DRAM, 32GB eMMC (embedded multi-media card) and a controller.” Also, as expected, the processor unit will be an improved version of the tech giant’s powerful Exynos 7422. But readers should note that Samsung has not confirmed the Galaxy Note 5 specifications thus far.