SEOUL, July 10

Samsung Electronics Co is bringing forward the launch of a key premium smartphone model, a person familiar with the matter told Reuters on Friday, as the South Korean tech giant seeks to revive sales after a sluggish second quarter.

The world’s top smartphone maker will launch a new version of its Galaxy Note phablet in mid-August, the person said, declining to be identified due to sensitivity of the matter. Previous versions, such as the Note 3 and 4, typically launched in September.

A Samsung spokeswoman declined to comment.

The mid-August launch will likely put the new Note smartphone model on the market ahead of arch-rival Apple Inc’s next iPhones. The US company is preparing for its largest initial production run for new phones so far by the end of the year, the Wall Street Journal reported earlier this week.

Samsung is seeking to rebound from a disappointing 2014, when its annual profit hit a three-year low as smartphone earnings slumped. Though its earnings are recovering, its second-quarter guidance of $6.11 billion operating profit fell short of expectations following a supply shortage for the curved-screen version of its flagship Galaxy S6 smartphone.