Reports surrounding the alleged successor to the Galaxy Note 4 have poured in even before the calendar hit 2015. In an earlier note, Tech Times cited the Galaxy Note 5 as one of the best upcoming smartphones this year, and its rumored specs should explain why the anticipation is just that great.

To begin with, Android Pit predicted that the Galaxy Note 5 may pack a whopping 55 MP main camera, provided that a new chipset technology sets in. Considering chipset, the outlet is convinced that the device could pack an "octa-core plus quad-core processor."

The current-gen Galaxy Note 4 houses Qualcomm's Snapdragon 805. Qualcomm brands 805 as the first commercial mobile processor capable of supporting on-device 4K Ultra HD display, 4K Ultra HD UI, 4K Ultra HD video capture and playback, "realistic" 3D gaming and up to 55 MP photography render.

Now, it must be noted that the Galaxy Note 4 packs a 16 MP camera supported by Smart OIS, and a front snapper worth 3.7 MP. If Note 5 pushes to a 55 MP capacity, we'll be seeing a jump worth 39 MP -- a huge upgrade.

Another interesting spec to look after is the Galaxy Note 5's alleged display. Trusted Reviews cited claims indicating that the device could come in an Ultra HD, 4K screen. This display runs a gargantuan resolution of 3840 x 2160 pixels.

Android Origin claimed that the Galaxy Note 5 will be a primary competitor to Apple's iPhone 7, pointing that it's "set to be a commercial success." However, with no official word coming from Apple, the iPhone 6s is also a potential rival.

As cited by PC Advisor, the device is rumored to pack the following specs: 5.9-inch display (743 ppi), Snapdragon 810 chipset, 4GB of RAM, 16 GB to 128 GB storage and 4000 mAh battery. Accordingly, the device may sport either Android L or Android M, depending on Google's release schedule.

Considering the release of previous Note devices, Trusted Reviews believes that a Sept. 2015 appearance in the Berlin-based IFA (Internationale Funkausstellung) would be likely for the Galaxy Note 5.

PC Advisor expects the device to retail somewhere between £550 to £599 at launch (inc VAT). Converting via Google Finance, we get a starting price of roughly $850 (as of press time).

Do you expect to see big upgrades in the Galaxy Note 5? What adjustments from Note 4 would you like to see? Sound off in the comments section below.

For more information about the Galaxy Note 4, head over here.

Watch Phonetech's concept of the Galaxy Note 5 below.

Samsung Galaxy Note 4 Is Getting a Speedy Snapdragon 810 Processor [VIDEO]