With the recent launch of the powerful Samsung Galaxy Note 7, the question that has been raised is whether you should buy it now or wait for the upcoming Apple's iPhone 7. Below we have jotted down the actual and rumored specs of the Galaxy Note 7 and the iPhone 7, respectively, in order to help you to decide which flagship smartphone is best for you.

The first differentiating factor between the two phones is their display. The Samsung Galaxy Note 7 sports a 5.7-inch screen with Super AMOLED display, whereas the iPhone 7 is expected to feature a 4.7-inch screen with the IPS LCD display, relatively inferior compared to the former.

In terms of performance-related specs, the Samsung Galaxy Note 7 consists of a powerful Exynos 8890 octa-core processor with 4 GB RAM and 64 GB of internal storage option, which is also expandable up to 256 GB. On the other hand, the Apple phone is rumored to feature the latest A10 processor with 3 GB RAM and 32 GB of internal storage in the base model.

Furthermore, both the smartphones are expected to flaunt the same camera specs. The Galaxy device sports a 12-megapixel rear and a 5-megapixel front camera, which is expected to be the same for the iPhone 7. But the only difference here will be the Apple device's dual-lens setup.

On the other hand, the Samsung Galaxy Note 7 consist of an S-Pen, which has additional features like translation, magnifying and water-resistant functionality. Moreover, the device also sports a USB Type-C port for faster data transfers and an Iris scanner for added security measures.

As far as the additional changes in the iPhone 7 are concerned, it is expected to flaunt a revamped Home button with Touch ID feature and redesigned antenna lines. The all-glass chassis is rumored to be incorporated in 2017's iPhone 8 device.

Both the phones can also be differentiated in terms of price. While the Galaxy Note 7 has already been priced at $850, the iPhone 7 is expected to be available for $900 for the base variant.