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Microsoft Surface Pro 5 release date, latest news: Microsoft phasing out Surface Pro 3 to make way for Surface Pro 5?

A promotional image for the Microsoft Surface Pro 4. | Microsoft

Microsoft has reportedly been working hard in developing the next iteration to their acclaimed Surface Pro hybrid PC lineup. And to properly usher in the arrival of the rumored Microsoft Surface Pro 5, it looks like the company has decided to make room for its upcoming device by phasing out one of its previous Surface devices.

As reported by Express, Microsoft recently released its earnings report for the most recent financial quarter, declaring a net profit of $5.2 billion and revenues of $24 billion.

However, the earnings report also noted that the sales of the Surface Pro 3, which was launched back in June 2014, had significantly fallen. Hence, it was reportedly decided that the device will soon be phased out.

The move to remove the Surface Pro 3 in Microsoft's official current lineup is apparently already taking place. In fact, the company has removed the listing for its Surface 3 devices from the Microsoft Store website in the United States. The Commercial Surface 3 is also listed as "Out of Stock."

This decision leaves the Surface Pro 4 and the Surface Book as the remaining flagship hardware products from Microsoft. That is the case for now, given that rumors continue to circulate about the forthcoming arrival of the Surface Pro 5 in the near future. Many speculations also surround the possible features that the highly-awaited gadget will be equipped with.

As reported by Forbes, it is expected that the Surface Pro 5 will arrive with a new display technology that will improve the accuracy of the touch screen for both the fingers and the Surface Pen. A 4K screen is also speculated to be one of the biggest visible changes on the tablet.

Another expected change is the complete switch to USB-C for external ports. There are also speculations suggesting that the Surface Pro 5 will be using Intel's seventh-generation Core processors, the Kaby Lake chips.

On when the next flagship hybrid tablet device from Microsoft will be arriving, it could be announced sometime in spring.