Samsung typically waits until September to announce the latest phablet addition to its Galaxy Note lineup. However, a new report out of Korea claims the company could be racing to release the Galaxy Note 5 as soon as late July.

According to WhoWiredKorea, Samsung may already be showing the finalized device to its carrier partners around the world ahead of the official launch this summer. The report offers two possible reasons for the company’s shortened product cycle: the upcoming iPhone 6s and Samsung Pay.

If Samsung wants to beat Apple to the punch then it makes sense to unveil the Galaxy Note 5 ahead of schedule. We’re not expecting the rumored iPhone 6s until September, which could give the Korean company a nice window for sales before Cupertino unleashes its newest smartphone.

It’s also possible Samsung wants to release the Galaxy Note 5 early to boost the launch of its new mobile payments service. Samsung Pay, which is expected this summer, is already set to work with the Galaxy S6 and S6 Edge. However, unveiling a new flagship phone at the same time could help hype up the Apple Pay competitor even more.

Of course, this is just a rumor for now, and it’s still completely possible we won’t see the Galaxy Note 5 announced until September. Samsung could also have something else entirely planned for July. It’s still too soon to know anything for sure.