Earlier, market reports said that the device will most likely feature 2K or Quad HD display technology.

The S5 is widely expected to feature a bigger screen, an improved rear camera and biometric functions such as iris recognition or a fingerprint scanner. It may also come with an improved Galaxy Gear smartwatch.              

A bigger screen for S5 may not become much of a selling point as Apple is widely expected to introduce large-screen smartphones later this year. Apple is also expected to gain ground in China after it began selling iPhones through China Mobile, the world's biggest mobile carrier by subscribers, last month.

Samsung Electronics Co recently said that it will unveil a new version of its flagship Galaxy S smartphone this month.