Good news to all gadget enthusiast as the release date for Samsung Galaxy Note 5 has been revealed, along with its new features and price range.

According to The Fuse Joplin, Samsung will likely release the new Samsung Galaxy Note 5 in October 2015, which will cost around $900 off contract.

It is worth mentioning that the Christian Post previously claimed that the Samsung Galaxy Note 5 will launch around Sept. 3, while a leaked information on Samsung's blackout period shows that April 19 to April 27 is the scheduled Galaxy Note 5 launch date, Phone Arena reports.

Value Walk reports that The Samsung Galaxy Note 5 will be equipped with a 4K Super AMOLED display measured at 5.9 inches. It can render a resolution of 2160 x 3840 pixels with pixel density of 743ppi.

The Samsung Galaxy Note 5 processor is Exynos 7420 chipset clocked at 3.2 GHz that has the RAM capacity of 8GB, and an internal memory of 64GB (expandable up to 128GB), The Fuse Joplin reports.

However, another report from Christian Post claimed that the phablet's processor is the Qualcomm Snapdragon 810 with 4GB of RAM capacity and an internal storage of 32GB which also expands up to 128GB.

There are also several reports on the Phablet's camera features as The Christian Post reportedly claimed that the Samsung Galaxy Note 5 will have a 20MP rear camera and 5MP front camera, while Valuewalk said that its a 1MP rear camera and 6MP front camera. The Fuse Joplin stated that both cameras are at 19MP and 4.7MP.

Other features on the Samsung Phablet includes the Gear VR from Oculus, and Samsung' new online payment system "Samsung Pay."

Engadget previously reported that the Gear VR is ready to be released sometime this year alongside the Note 5, during the GDC 2015 event.

As for the Samsung Pay, Value Walk quoted that "the mobile payments could completely replace cash and credit cards by the end of the decade," and will likely see that once Samsung Pay has been revealed, it could be a potential opponent against Apple's Apple Pay system.