In context: Samsung tends to make solid phones, but unfortunately, its emphasis on fancy designs, high-end specs, and crisp screen quality usually leads to hefty price tags. The Galaxy Fold comes in at nearly $2,000, and even the more "affordable" Galaxy Note 10 will run you about $950 (for the non-5G variant).

A recent report from SamMobile suggests Samsung is aiming to cater to its budget-minded customers a bit better moving forward. Apparently, the phonemaker is developing a new Note device, dubbed the Galaxy Note 10 Lite.

Given the device's branding, we can probably expect the Note 10 Lite (if it truly exists) to have a similar overall design to the full Note 10; but with stripped-down hardware.

However, since it is supposedly a Note gadget, we'd be surprised if Samsung completely nuked the phone's capabilities. This is mere speculation on our part, but perhaps the device will feature less RAM, a slightly older processor, and downgraded storage capacity, while retaining features like the S-Pen and a triple-camera setup. For reference, the standard Note 10 ships with a 6.3" FHD AMOLED display, 8GB of RAM, and 256GB of onboard storage.

At any rate, precisely what compromises the Note 10 Lite will bring is unknown for now. Even SamMobile does not seem to know much more about the device. However, if their information is accurate, the Note 10 Lite should ship with two color options (black and red) and the model number SM-N770F.

While the concept of a more affordable Galaxy Note 10 does sound appealing, all of this information should be taken with a grain of salt for now. The existence of such a device has not been confirmed by Samsung yet, and that silence probably won't be broken until an official reveal (phonemakers generally don't like to comment on rumors or speculation). Regardless, we'll be sure to update you the moment we have more information.