Samsung is widely believed to be unveiling the much awaited Samsung Galaxy S7 by the first quarter of 2016, although it remains to be revealed which month it will actually come out.

As reported previously, the Samsung Galaxy S7 is rumored to be popping up by January at the earliest while others say that it will be in February. Regardless, the best way to sum it all up is that the device will be out not later than Q1.

Other than that, the latest word is that Samsung may be planning to offer the Samsung Galaxy S7 and S7 Edge at a cheaper rate compared to the Samsung Galaxy S6. If accurate, the Galaxy S7 could come out 10 percent cheaper than its predecessor, as reported by GforGames. This should be welcome news to the ones planning to get one next year.

Samsung has been known to tinker around with the price as a means to draw in customers from the Apple side with the iPhone 6s. But this time, the price reduction does come as a bit of a surprise, considering that they don't really have any competing brand to worry about unless they plan to reduce the price further once Apple releases the next rumored iPhone variant.

Other than that, the Samsung Galaxy S7 and S7 Edge are also believed to be the company's ticket to competing with Apple's vaunted 3D Touch feature.

Other features that the Samsung Galaxy S7 will be having include either an Exynos 8890 or Qualcomm Snapdragon 820 chipset, faster Long Term Evolution (LTE) connectivity, and that much talked about Sony 12-megapixel rear camera.

The Samsung Galaxy S7 is believed to be debuting with Android 6.0 Marshmallow, although such has yet to be confirmed, considering the release of the latest Android 6.0 M is not as rampant as many had hoped. The Samsung Galaxy S7 is also believed to be coming with a magnesium alloy shell when it makes its debut.