With just days before the Samsung's next big event called "Unpacked" begins in New York, consumers are now excited to learn what the South Korean electronics and consumer products brand have in store for smartphone enthusiasts this year.

Speculations claim that the highly anticipated release of the Samsung Galaxy Note 5 will be held during the Samsung Unpacked 2015 event in New York alongside the rumored Samsung Galaxy S6 Edge+. Yet rumors about the alleged Samsung Galaxy S7 are also swirling online.

According to reports, the latest edition of the phablet from the Seoul-based tech and consumer products giant will reportedly feature the same display specs that can be seen in its predecessor, which is the 5.7-inch Super AMOLED display with Quad HD 2,560 x 1,440 pixel resolution.

However, the upcoming device will now come with a better casing for an improved appearance. This will include the glass back and aluminum edges that are also featured in the previously released Samsung Galaxy S6.

The new Samsung Galaxy Note 5 will also allegedly have an improved S Pen slot, which is rumored to have a spring loaded feature to make the stylus easier to yank out of the phablet and to swiftly return it for proper storage as well.

Other rumored specs for the upcoming flagship phablet device include a 64-bit octa-core Exynos processor, a 4 GB of RAM, a standard 32 GB internal storage, with 16-megapixel primary camera as well as five-megapixel secondary shooter.

Meanwhile, a leak was posted in the Chinese microblogging site Weibo, featuring some of the alleged specs of the next Samsung flagship smartphone.

According to the leaked information, the upcoming Samsung Galaxy S7 will have the Snapdragon 820 from Qualcomm instead of Samsung's in-house Exynos 7420 chipset. It will also allegedly have the same dual-camera features of HTC One M8 upon release.

However, there are no details regarding the exact release dates for both products at the moment.

The Samsung Unpacked Event will take place Aug. 13, 2015. Live streaming will begin at 16:00 UK time, which is 11 a.m. ET.