If a Wall Street Journal report published on Wednesday is accurate, Samsung will be releasing the Galaxy Note 7 for the third time on July 7.

Samsung had already confirmed back in March that it plans to release an refreshed model of the Galaxy Note 7.

The third iteration of Samsung's Galaxy Note 7 will supposedly be called the Galaxy Note 7 "FE," where "FE" stands for "Fandom Edition." So far, South Korea is allegedly the only market where the Galaxy Note 7 FE will be sold, and it'll priced under 700,000 South Korean won, or $616.

Indeed, you'd have to be a stubborn fan of the Samsung's Galaxy Note phones to consider the new Galaxy Note 7 FE. The original Galaxy Note 7 model released in August 2016 was plagued by reports of catching fire in the weeks following its release. The original model was recalled in September 2016, and Samsung issued refurbished units just two weeks after the initial recall that were supposed to contain fixes for the the issue.

Unfortunately for refurbished Galaxy Note 7 owners and Samsung, several of the refurbished units also caught fire. Samsung eventually discontinued the production and sales of the Galaxy Note 7 in October 2016, barely two months after its release. It was ultimately discovered that faulty batteries were the cause of the Galaxy Note 7's fiery issues.

Skepticism aside, and if the Galaxy Note 7 FE is a real device, it's unlikely that Samsung would allow the Galaxy Note 7 FE to contain the same issues as the original models, as the company's reputation would be at stake. It's been almost eight months since Samsung discontinued the original models, which would have given the company plenty of time to address the issues compared to the two week turnaround of the original refurbished units from September 2016.

Additionally, the cause of the original Galaxy Note 7 models' issues wasn't officially recognized at the time of their original recall and refurbishment.

The Galaxy Note 7 FE's $600 price tag could be tempting for Galaxy Note fans, as the latest usable Galaxy Note phone is the Galaxy Note 5 that was released two years ago in 2015. At the same time, Galaxy Note fans may be better off waiting for the upcoming Galaxy Note 8. Rumors of the Galaxy Note 8 with special new features are peeking their heads, and they point to an announcement in August or September this year.