Samsung is prepping an update to its popular Galaxy Note phablet line that will launch later this year, and a new report suggests the Galaxy Note III will be an absolute powerhouse. A report from The Korea Economic Daily newspaper on Wednesday says that the Note III will feature an industry-leading 3GB of RAM when it debuts this fall. The same report claims LG’s next-generation Optimus G2 will feature 3GB of RAM as well. Where the Galaxy Note III is concerned, the 3GB of memory combines with earlier reported specs to paint a picture of a remarkably powerful handset — other rumored specs include a 2.3GHz quad-core Snapdragon 800 processor, a 6-inch full HD Super AMOLED display, a 13-megapixel camera, Android 4.2.2 Jelly Bean and improved S Pen support. Samsung is reportedly planning a September 4th press conference to debut the new Galaxy Note III.