Anticipation is high for Samsung's upcoming flagship phone, the Galaxy Note 5, and if rumors are to be believed, there is definitely a lot to look forward to, especially as it is said to be even better than its predecessor, International Business Times reported.

The Galaxy Note 4 was received with much excitement when it came out last year. So much so that sales of the smartphone ended up helping Samsung bounce back from their lackluster numbers during third quarter of 2014, the International Business Times noted. Because of that, it's not unusual that the Galaxy Note 5 is closely being monitored by analysts and consumers, and while Samsung keeps mum, the rumor mill claims that the new phone is definitely more superior.

For one thing, it's already expected that the Galaxy Note 5 will be even more powerful than its predecessor, especially as Samsung is improving their phones' processor, display, design, camera and software with every new release, according to Gotta Be Mobile.

Those new Galaxy Note 5 features include a 4K display, 4GB RAM, an internal memory of possibly up to 256GB and a 4000 mAH battery. There are also reports of two versions of the device being released, with one coming with the Snapdragon 810 chipset, while the other with the Exynos 7420, The Fuse Joplin detailed.

It was also said to be running on the Android 6.0, pack a 19 MP rear camera with OIS and a matching 4.7 MP front camera, GPS and LTE support, Hover Over technology to support the S Pen and a bezel free display, Design and Trend reported.

The outlet also listed Galaxy Note 4's features for comparison, which included a 5.7-inch QHD AMOLED display with 2560x1440 resolution, a next generation S Pen, a 2.7 GHz quadcore processor and a 16 MP main rear camera with OIS and eight times the digital zoom with a matching 3.7 MP front camera.

It added that the smarphone runs on the Android 4.4 KitKat, has a 3220 mAh battery with a Rapid Charging feature and 32 GB of memory with a microSD slot that helps increase memory. It also features a plastic and metal design, a fast processor with multitasking capabilities and a fingerprint sensor and a new S Pen.

As the South Korean electronics giant refuses to reveal anything as of now, it will actually take a long while before speculations on the Galaxy Note 5 are confirmed.

Meanwhile, PC Advisor predicted that the Galaxy Note 5's price may fall between $800 - $900 (£550 inc VAT and £599 inc VAT). 

Reports have appeared that the Galaxy Note 5 will be revealed in September, just in time for the one year run of the Galaxy Note 4, according to International Business Times.