Galaxy Note II
Galaxy Note IIReuters

Samsung's newest version of its oversized Galaxy Note "phablet" is likely to launch in India during a press event in Hyderabad on Thursday, reports said.

The much-anticipated smartphone tablet hybrid is already up for pre-orders in India. Consumers can place an order for the device for ₹5,000 on the company's India website but should make full payment within 15 days of its launch. Galaxy Note 2 is expected to cost ₹38,000.

First unveiled at Berlin's IFA trade show in August, Galaxy Note 2 comes packed with much advanced features than its first iteration. The device sports a massive 5.5-inch HD Super AMOLED touchscreen backed by a quad-core 1.6GHz Cortex A-9 processor with 2GB RAM and 16/32/64 GB storage options that can be expandable up to 64GB via MicroSD support.

Galaxy Note 2 runs on Google's latest Android 4.1 Jelly Bean OS. The device also features an 8-megapixel rear camera with LED flash and a 1.9-megapixel camera on the front. It packs a 3,100mAh battery and also has 4G LTE connectivity option.

The key feature of the Galaxy Note 2 is the improved S Pen which is designed for writing and drawing and has many advanced features like the new Quick commands. Additionally, it also includes the all-new Air View feature, which allows users to get preview of an email, image gallery, or video without opening it by using the S Pen.

The South-Korean market was the first to receive Galaxy Note 2 on Wednesday. Following the launch in India, Samsung will start rolling out the device to 128 global markets in October.

The device is likely to compete with other rival smartphones and tablets including Google Nexus 7, LG Optimus G as well as Samsung's own Galaxy S3, which topped 20 million sales in just three month of its release.

The company is currently aiming to sell 20 million units of Galaxy Note 2 and expects sales to triple compared to the original Galaxy Note, 9to5 Mac reported.