While the tech world is swirling around the unstoppable flow of rumors and speculations about Galaxy S4, there is something different coming up from the Samsung family. This time, it's about Galaxy Note 3, the successor to the wildly popular Samsung Galaxy Note 2. According to fresh rumors, Note 3 will feature a 5.9-inch OLED display and would see an official release at IFA 2013.

The latest report comes from The Korea Times which said Samsung will release the large sized device in the latter half of the year to solidify its leading position in the rapidly-growing phablet market. The handset will be powered by the in-house Exynos octa-core chipset.

Citing an official who spoke on condition of anonymity, the report said Samsung may not use the much-talked about flexible display technology for Galaxy Note 3 as its display making affiliate, Samsung Display is finding it hard to meet the demand.

Terming the device a 'phablet' as it's a hybrid of a phone and tablet, the source said the move is to further strengthen its foothold in the phablet market that recently saw an influx of products in the similar size range from Chinese rivals such as ZTE and Huawei. Samsung appears to be in no mood to give out even an inch of its market supremacy that it gained with its 5.5-inch Galaxy Note 2. However, the market apparently offers a lot of space to its rivals including the Chinese firms who introduced 5.8-inch to 6-inch devises. Samsung has reportedly sold more than 10 million Galaxy Note 2 devices since they were unveiled last September.

The source indicated that Samsung expects a rapid rise in its phablet business. "Even if these kinds of sizes - from 5-inch to 6-inch-are stretching the limits of traditional pockets, well-made phablets using bezel-less technology have been warmly received. Users prefer bigger phones and they use them more often. Samsung will be more focused on larger phones,'' a top-ranked executive at one of Samsung's parts suppliers was quoted as saying to The Korea Times.

According to some mid-Feb reports, the upcoming Galaxy Note 3 could already be leaked via the concept images of the other rumoured smartphone called Nexus 6. "Samsung Nexus 6 uses a 6.3 inch Super AMOLED Plus Full HD screen, the likes of which is rumored to be used on the future Note. There's also an Exynos 5 Octa CPU, probably with big.LITTLE technology, 3 GB of RAM, also a likely feature of the Note 3 and 128 GB of storage, plus microSDXC. At the back we've got a 13 megapixel camera and upfront a 2 megapixel one, both with Full HD capture," a report by Concept Phones states indicating the Note 3 would likely carry a similar set of features.