Samsung has released new information regarding the release of their tablet, the Galaxy Note 10.1. The tablet will be available Thursday, August 15 and will be priced at $500 for the 16GB model and $550 for a 32GB model.

The device will be WiFi only initially, but will be releasing 4G models later this year.

Samsung introduces the S Pen stylus which ushers in new drawing and writing capabilities along with sharing functions. S Note and S Memo will work with the S Pen to produce notes using a variety of sources including voice, URL Links, and images.

The My Story app is a complementary feature allowing for creation of interactive cards and presentations using text, photos, and videos.

The device itself weighs about 1.31 pounds and measures 10.3 by 7.1 inches. It will house a front-facing 1.9 megapixel camera, a five-megapixel rear-facing camera, and a speaker on each side of the tablet.

The Note has an upgraded 1.4GHz Exynos quad-core processor, Bluetooth support, and a number of preinstalled applications including GPS and a digital compass.

Samsung will be implementing a number of updates with the newest version of its touch user interface TouchWiz, combined with Android’s Ice Cream Sandwich operating system. The tablet will be using SugarSync for easy sharing between Samsung devices as well.

The Note will be introducing Multiscreen, which provides an easy filing and moving method for multiple applications. Other applications and games can be found in Android’s Google Play store.

For additional information and specifications view the Samsung Galaxy Note web page.