A particularly juicy rumor has it that Samsung is preparing an updated version of its Samsung Galaxy S II flagship with a 1.4 GHz dual-core processor. The upgrade could either be delivered with the NFC-capable version of the company flagship or in a completely new smartphone.

Word is Samsung is preparing an updated version of its Exynos SoC. It will reportedly retain the same GPU (Mali-400MP) and RAM amount (1GB), but it will boost the processor speed by 200 MHz to 1.4 GHz. Samsung has done that once, upping the Galaxy S II CPU frequency right before its market release.

The more interesting question is whether we'll see the new SoC in an updated version of the Galaxy S II, such as the upcoming NFC edition, or it is going to launch within a completely new device.

According to the source Samsung is making the update so its flagship will be able to compete even more successfully with the iPhone 5, when it gets announced (reportedly this September). We'll hopefully see how things turn out after a couple of months.

Source