Samsung appears to be seriously planning to take on its arch rival Apple in the high-end smartphone segment. The Korean electronics company is reportedly selling its upcoming flagship smartphone, the Galaxy S7 at a very competitive price – much cheaper than its predecessor, the Galaxy S6, to be precise.

Take this piece of news with a pinch of salt as Samsung is yet to release the Galaxy S7, but if one has to go by the report, it could come with a price tag much lesser than the Galaxy S6 at the time of launch.

China-based analyst Pan Jiutang has said that Samsung is considering its flagship smartphone Galaxy S7 to be priced 10% lower than the price of its predecessor, the Galaxy S6, at the time of its launch in the first half of this year, according to The Times of India

It may be noted that the price of the Galaxy S6 started at Rs 49,900 at the time of its launch; the Galaxy S7 could come with a price tag of roughly around Rs 44,910 if we are to consider reports of a 10% price reduction. This move, if true, can take a toll on devices like Apple's iPhone 6S, which is priced at Rs 62,000 and other high-end devices from HTC, Sony, LG and others in a price-conscious market like India.

However, it may be noted that the pricing of the Samsung Galaxy S7 could change as it is still a few months away from hitting stores. Giving a hint that its release date is not far off, ETNews (via GforGames) has reported that mass production of the processor that will power the Galaxy S7 has already begun. 

According to reports, Samsung is releasing two variants of the Galaxy S7 – one to be powered by Samsung Exynos 8890 processor clocking at 2.4GHz, and the other by Qualcomm Snapdragon 820 chipset. The device is also expected to sport a QHD display with 2560x1440 pixels, run on Android 6.0 Marshmallow operating system, come packed with 64GB inbuilt memory and 4 GB RAM, house 23 MP main camera and 5 MP front snapper, and come with 3D Touch and USC Type-C port features.