Microsoft is scheduled to conduct a special event in New York City on Tuesday, May 2, where new software and hardware products are expected to be launched. But speculations claim the highly anticipated Surface Phone will remain under wraps during the event.

However, new reports claim the tech giant might be ready to release the much-awaited smartphone in the coming days since the early version of the Windows 10 Redstone 3 software was already launched.

According to reports, the final version of Redstone 3 will be released before the end of 2017. This will supposedly coincide with the reported release of the Microsoft Surface Phone.

But while there are no confirmed statements yet from Microsoft regarding the release of the Surface Phone, a previous report from Windows Central claims the tech giant is planning to release the device with two main goals: creating the rumored smartphone as the most secure mobile device in the world, and making it known as the best smartphone for productivity.

Details about the possible features of the Surface Phone remain scarce, but a previous podcast interview with Microsoft's Chief Marketing Officer Chris Capossela that was released by This Week in Tech in December 2015 revealed that it will be a groundbreaking product.

"We need more breakthrough work ... with Surface we had a bunch of early misfires, but that notion of a tablet that could replace your laptop — that notion of saying, 'Hey, Apple wants to sell you an iPad and they want to sell you a Mac, we think there's one device that exploits the seam between those two devices.'" Capossela stated. "We need some sort of spiritual equivalent on the phone side that doesn't just feel like a phone for people who love Windows."

Microsoft is expected to confirm the news about the release of the Surface Phone device before the end of 2017.