A leaked internal document of the company has confirmed that Samsung is currently working on a phablet named 'Samsung Galaxy Grand Neo'.
According to this document, the Galaxy Grand Neo will come with a 5-inch TFT display with a resolution of 800 x 480 pixels. It also includes 1.2 GHz quad-core A7 chipset. The size of RAM is expected to be 1GB.
A few more specs...
Dimensions : 143.7 x 77.1 x 9.6mm
Rear camera : 5MP
LED Flash : yes
Front camera : VGA
Internal memory : 8GB
Battery : 2100mAh
Operating Sysytem: Android 4.2 Jelly Bean
Connectivity : Bluetooth 4.0
HSPA+ (21Mbps down, 5.76Mbps up)
Wi-Fi 802.11 b/g/n
Wi-Fi Direct, GPS/ AGPS,
3G, GLONASS, and Micro-USB
As per the report, the Galaxy Grand Neo costs €299 after tax in Europe, this means that it would cost roughly Rs.25,000 in India. However, in the report, there is no sign of indication on the availability.
[NOTE: The above stated details are from the leaked internal documents reported by GSMArena. The actual price is yet to be announced by the company officially.]