A new report claims that Samsung will launch a cheaper version of its upcoming Galaxy Note 3 phablet, in addition to its high-end flagship model.

Samsung has already confirmed that it will be announcing its next-generation Galaxy Note 3 phablet and Galaxy Gear smartwatch at its Unpacked event scheduled for Sept. 4. We already know the company plans on releasing at least two variants of the smartphone - one will feature an 8-core Exynos processor and the other will use a quad-core Qualcomm Snapdragon processor. The company has never been shy about flooding the market with multiple variants of its devices and now a new report claims it will also launch a low-cost Galaxy Note 3.

ETNews is reporting that Samsung will release a few variants of the Galaxy Note 3 and one of those devices will swap out different parts from the flagship Galaxy Note 3 and use cheaper components to create a less expensive phablet in order to ensure it gets the smartphone in as many hands as possible. The site's sources claim that the lower-priced Galaxy Note 3 will look identical to the more expensive offering but Samsung will use an LCD display instead of the Super AMOLED display that will ship with the higher-end flagship Galaxy Note 3.

Samsung will also apparently remove the expected 13-megapixel and replace it with a less expensive 8-megapixel shooter to further reduce the overall cost of the device. The publication claims that the low-cost Galaxy Note 3 will account for 30 percent of the initial production run of the next-generation phablet. It also claims Samsung made the decision to introduce a lower cost Galaxy Note 3 to reduce production costs in order to reduce cut prices of the Note 3 in the markets it will sell the device.

The report does not list the phablet's other specs, what markets will receive the low-cost Galaxy Note 3, or when it will be made available for purchase. As always, it is best to take reports like this with a huge grain of salt. We should know more details come Sept. 4.