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Microsoft Surface Pro 4 and Surface Book were launched in October, 2015 and now the rumors have it that the company is working on Surface Pro 5 alongside Surface Book 2. It is also reported that the electronic giant will launch Surface Book 2 in July after the release of MacBook Pro 2016 at Worldwide Developers Conference (WWDC) in June.

It is also widely rumored that the release date of Microsoft Surface Pro 5 is set in June and its basic version would hit the market with a price tag of $899. As far as Intel Core i7 edition is concerned the price tag would likely be $999 and the advanced version with Core i7 processor would cost $1,599, according to International Business Times.

As for the specs, Surface Pro 5 will likely feature much advanced specs than Surface Pro 4. Surface Pro 5 is expected to come with 4K Ultra HD display with 3,840 x 2,160 pixel resolution. The Pro 5 is rumored to feature a larger screen of about 13.3 inches.

"Rumors have it that the Kaby Lake processor from Intel will power the Surface Pro 5. It is expected to carry improved graphics and deliver longer battery life that will help in improving overall performance of the device. However, since the Kaby Lake processor is expected to get announced later this year, other rumors are suggesting that the Surface Pro 5 may continue to feature Intel Skylake chipset," reported IB Times.

Microsoft launched Surface Pro 4 with nine hours battery life, which however had issues and was fixed in February. It is expected that the company will make sure that the power issues don't pop up in the upcoming version while focusing on improving the battery life further.

"All Surface Pro tablets come with a stylus called the Surface Pen, which has become an integral part of the Surface Pro experience. The existing Surface Pen requires one AAAA battery. However, rumors point that the Surface Pen for the Surface Pro 5 will have a rechargeable battery. The stylus may be recharged through a magnetic dock linked to the tablet," noted Tech Times.

While speculations are rife on the release date of Microsoft Surface Pro 5, some rumors report fourth quarter of the year whereas others assume June, 2016.