The highly anticipated Samsung Galaxy Note 7 is expected to be unveiled on August 2 confirming earlier rumors of 'Galaxy Unpacked' summer event. With only two weeks left before the event, new details have surfaced regarding the phone's pricing including other related updates on its rumored specs and features.

Samsung Galaxy Note 7 Price Tag

A report by Sam Mobile suggests that the upcoming phablet flagship of the Galaxy Note series could be initially priced at $945 (€849) in Europe, $56 (€50) more than its Galaxy S7 Edge cousin which was released earlier this year. If the rumors prove accurate, Note 7's hefty price tag makes it the most expensive Samsung smartphone to date. The price is largely attributed to the device's dual-edge screen display which costs a lot to manufacture.

Its predecessor, Galaxy Note 5, was pegged at $850. Usually, Galaxy Note phablets cost more than its Galaxy S cousins so Note 7 won't come cheap. Moreover, earlier reported patents seem to point to Samsung's continuing efforts to create a high-end smartphone equipped with enhanced processing power relatively comparable to an average laptop.

Samsung Galaxy Note 7 Launch Date

The South Korean consumer electronics firm is set to unveil the Galaxy Note 7 at 'Galaxy Unpacked 2016' held in multiple locations worldwide. The August 2 launch will start in in New York at 11am EST with simultaneous events in London (4PM) and Rio de Janeiro (noon).

In recently published statement, Samsung justified its decision of skipping the sixth generation successor to last year's Note 5. The change in naming seems logical as it tries to make at par with the Galaxy S series.

"There are a couple reasons why. First, the Galaxy Note7 will complement our Galaxy S7 and S7 edge, and unify our product portfolio. Second, the Galaxy Note7 will minimize confusion about the latest mobile technology from Samsung, and provide full alignment with Galaxy S smartphone," the company said as quoted in a press statement posted in Samsung's newsroom.

Rumored Specs & Features Round-up

Nothing has been officially confirmed yet and speculations over the phablet's specs & features are still up for debate. However, Android Pit thinks that some of the phone's likely features may include the following: Type-C port, curved display, laptop dock, Galaxy Note Pen stand, iris scanner, 5.8-inch screen size, Snapdragon 823, 6GB RAM, 4,200 mAh battery, 256 GB internal storage, camera sensor with an f / 1.4 aperture, and 24 megapixel resolution.

Samsung seems upbeat following the success of the Galaxy S7 flagships earlier this year. Meanwhile, the South Korean company may also unveil its latest Gear VR headset alongside Note 7. According to a report by IT Pro, the next-gen virtual reality headset was recently seen on Zauba, an Indian import database, which lists an unused model code for a Gear VR headset labeled as SM-R323.