New reports indicate an earlier release date for the next generation Samsung phablet, the Samsung Galaxy Note 4.

According to the EpochTimes, Korean website, ET News, reported that "the first five million Galaxy Note 4 units will be produced in August, and could go on sale as early as the beginning of September."

If Apple does release the rumored larger devices, one measuring 4.7-inches and another, a phablet coming in at 5.5-inches, Samsung may loose a bulk of their market to Apple, if they wait any longer, wrote 360nobs.com.

When it comes to the specs, the next generation Note's screen may be even larger than the existing 5.7-inch Galaxy Note 3. The 4th generation Note would be at least 5.7-inches but may carry a 5.9-inch even, 6-inch screen, noted PCAdvisor UK.

Additionally, the S Pen stylus may be available again but with boosted features like personal handwriting recognition and enhanced function performance.

Rounding up other alleged specs, the Note 4 would reportedly have Snapdragon 805/64-bit processors and would run on the Android 4.4 KitKat or Android L. The camera would have a fairly powerful camera, somewhere between 13-20MP rear camera, with Optical Image Stabilization and a UV sensor to detect UV radiation levels. The Note 4 would have touch ID/ Fingerprint sensor or Retina scanner for additional security and presumably a boosted battery life, much like the iPhone 5S and the reported iPhone 6, Gottabemobile wrote.

When it comes to the screen, SamMobile said the upcoming phablet would sport an AMOLED screen and in terms of color, Evleaks wrote that the Note 4 may offer the same color selection as those provided under the Samsung Galaxy S5. This would mean consumers get four options, Charcoal Black, Shimmery White, Electric Blue and Copper Gold.

If the Samsung Galaxy Note 4 and the iPhone 6 do go head-to-head this coming fall, what would yo opt for if Apple does release a phablet?

Let us know below!