Samsung is reportedly planning to launch a light version of its new flagship phablet and the upcoming device would be called the Galaxy Note 3 Lite.

In the months leading up to the Galaxy Note 3's official debut, various rumors suggested that Samsung may offer different versions of the device, just like it did with its Galaxy S4 flagship smartphone.

According to a new report from SamMobile, Samsung will launch a more budget-friendly Galaxy Note 3 model at the Mobile World Congress (MWC) in February next year.

"Before the Galaxy Note 3 was launched, there were many rumors that hinted at Samsung's plans to launch both a premium and lower-cost variant of the phablet. Well, thanks to our insider, we can confirm that the later variant does exist - Samsung will announce the Galaxy Note 3 Lite at the MWC next year, and market availability will begin sometime in February/March," SamMobile reports.

The report further notes that the Samsung Galaxy Note 3 Lite has the model number SM-N7505 and will launch in black and white color options, but the publication had no details on the device's specs.

The purported Samsung Galaxy Note 3 Lite surfaced in shipping manifests over the weekend, which indicated that Samsung is currently testing two screen sizes for the device - 5.7 and 5.49 inches.

The Galaxy Note 3 Lite is expected to come with slimmed-down specs compared to the original model in order to accommodate a lower price tag. Previous rumors have suggested that this variant would feature a 8-megapixel rear camera instead of the 13-megapixel unit found on the Galaxy Note 3. The screen technology may also see a downgrade from Super AMOLED to LCD, which would put the Galaxy Note 3 Lite on par with the Galaxy S4 Active.

While Samsung has yet to confirm such plans, a Galaxy Note 3 spinoff is definitely a possibility. The company has never been shy about bringing a slew of devices to the market to suit as many tastes and budgets as possible, and the Galaxy S4 spinoffs stand proof that this strategy is working out for Samsung. The Galaxy S4 Mini, Galaxy S4 Active, and the Galaxy S4 Zoom are all spinoffs of the flagship Samsung Galaxy S4, and each of those models has been well-received by their target audience.

The Samsung Galaxy Note 3 has received high-praise for its top-notch specs and features, but it comes with a price to match. A Galaxy Note 3 Lite may bring some of those features to a more budget-friendly price point. As usual with such reports, however, it is advisable to take things with a grain of salt util official confirmation.