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(Pocket-lint) - Samsung launched the Galaxy Note 3 in September 2013, bringing with it a 5.7-inch display, 2.3GHz quad-core Qualcomm Snapdragon processor on the 4G model and 3GB of RAM.

As a high-end device and the company's flagship Note, it also brought with it a hefty price tag making it inaccessible to some. But now it seems a budget version of the handset is on its way - the Samsung Galaxy Note 3 Lite, or Neo, as it's called by some.

Samsung has recently confirmed the Galaxy Note 3 Neo, but did not detail any specs so we have sifted through the rumours to bring you a round-up of what you might be able to expect based on the leaks, but we will be updating this feature regularly as more information appears, so keep checking back.

Samsung Galaxy Note 3 Lite/Neo release date

Rumours suggest the Galaxy Note 3 Lite/Neo will be unveiled at Mobile World Congress 2014, which would seem like a reasonable time and event to launch. Given that CES has passed with no budget Note 3 launched, MWC is the next big event in the calendar, in late February.

The speculation came from SamMobile, who claims an "insider" said the Note 3 Lite/Neo would launch at the company's press event in Barcelona.

The Korean media also predicted a February 2014 release date, with claims Samsung will produce 500,000 units this month and a further 1.5 million in February. It was also suggested Samsung was expecting the Note 3 Lite to account for 30 per cent of the total Galaxy Note 3 sales.

More recently, just before it was officially announced, the Samsung Galaxy Note 3 Lite/Neo appeared on a Belgium retailer pre-order website, suggesting the device is coming soon. It was listed on the site for €599, which if directly converted would make it £492 so cheaper than the Note 3.

It's worth noting, while Samsung has officially announced the Galaxy Note 3 Neo, it also told us after the announcement that it will not be coming to the UK, and Engadget reported the company told it the US wouldn't be receiving the handset either.

Samsung Galaxy Note 3 Lite/Neo display

The Galaxy Note 3 Lite/Neo is said to be coming with a 5.55-inch Super AMOLED display, which is slightly smaller in size than the flagship Note 3.

samsung galaxy note 3 lite neo release date rumours and everything you need to know image 2

The resolution is rumoured to be 1280 x 720 pixels, offering a pixel density of 265ppi, which is lower than the original model that came in at 386ppi, but that is to be expected if costs are to be kept down.

However, there have also been reports of an LCD display, which could be more feasible to ensure an affordable handset. According to shipping manifests from Korea, mobile phones have been shipped for "testing and evaluation" featuring screen sizes of 5.49 inches and 5.7 inches, both LCD.

As the AMOLED rumour is the latest in the display speculation, we suspect the 5.55-inch with Super AMOLED but a reduced resolution is a more likely option.

Samsung Galaxy Note 3 Lite/Neo design

When it comes to design, leaked images from Sammobile suggest the Note 3 Lite/Neo and the Note 3 will be very similar in appearance.

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There has also been a rumour that the faux leather will be ditched in favour of a plastic back to cut down on costs, but the leaked images are more recent and suggest this won't be the case (no pun intended).

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The Galaxy Note 3 Lite/Neo is allegedly presented next to the Note 3, showing both with the same faux leather back and stitching patterns. So those who like the style of the Note 3 shouldn't be disappointed with the budget version in terms of design if these images are legitimate. We've seen silmilar styling on the Samsung Galaxy TabPro models, so it looks like Samsung's latest design trend.

Samsung Galaxy Note 3 Lite/Neo processor and connectivity

The Galaxy Note 3 Lite/Neo might be set to be a budget model but if the rumours are accurate, it will still be packing plenty of power.

According to a leaked document on GSMArena, the device will come with an ARM-based hexacore processor made up of two 1.7GHz cores and four 1.3GHz cores.

The more powerful cores are said to be responsible for the more intensive tasks, while the smaller cores will look after the non-demanding programs. There is also said to be 2GB of RAM supporting it, so the device should be capable of most tasks you throw at it.

Additionally, the Note 3 Lite/Neo is rumoured to be well connected, with support for WiFi 802.11ac, NFC, Bluetooth 4.0+ LE and MHL 2.0 all on board.

Samsung Galaxy Note 3 Lite/Neo camera

If the rumours are accurate, the camera is one feature that will differ quite dramatically from the original Note 3, taking a step down in megapixels on the rear snapper.

The Note 3 Lite/Neo is said to be coming with an 8-megapixel rear snapper and a 2.1-megapixel front camera, compared to the 13-megapixel rear camera and 2-megapixel front camera offered on the flagship model. The Note 3 Lite/Neo's rear camera is said to be capable of Full HD 1080p video capture. The Note 3 goes one better, offering 4K capture too.

There is no word on whether the cheaper Note 3 will include the same features as the flagship model such as Dual Shot, Dual Recording and Dual Video Call, but we suspect these will probably be on board, given that they were taken from the Galaxy S4.

Samsung Galaxy Note 3 Lite/Neo battery and storage

In terms of battery, the Note 3 Lite/Neo is rumoured to be coming with a 3100mAh capacity battery, which is a slightly smaller capacity than the Note 3, but you probably wouldn't notice too much difference in terms of performance, especially if the screen is a lower resolution.

Storage will be significantly reduced on the Note 3 Lite/Neo if the rumours are true, with 16GB internal memory compared to the 32GB or 64GB offered on the Note 3. It is said to offer microSD support though, so users will be able to expand the storage for photos, videos and music.

Writing by Britta O'Boyle. Originally published on 16 January 2014.