The Galaxy S5 is installed with a slightly bigger screen than its predecessor, at 5.1 inches compared with 5 inches, improved camera technology and better protection against water and dust, Samsung said.

It also has a fingerprint scanner on the home button, it said, which can be used to protect data and provide security credentials in a swipe.

The smartphone possesses a FHD Super AMOLED display with a resolution of 1920 x 1080 pixels. The device runs on 2.5GHz quad-core application processor along with 2GB of RAM. It runs on Google’s Android 4.4.2 KitKat operating system and boasts of 2800mAh battery.

Galaxy S5 was unveiled in 16GB and 32GB variants. The users also get an option to expand the storage capacity of this handset up to 64GB. It also reportedly showcases a built-in heart-rate sensor.

It brings along more innovative features such as Ultra Power Saving Mode, Finger Scanner along with water resistant and dust resistant technology. It also features a 16 megapixel rear camera and 2.1 megapixel front camera. The company claims that the phone has got world's fastest autofocus speed of up to 0.3 seconds.

Analysts said the improvements in the fifth iteration of the Galaxy S, which has sold more than 200 million units in total, were more incremental than in previous devices, showing it was becoming harder to innovate at the top end.

Forrester Research analyst Thomas Husson said, "The Galaxy S5 has great features and will probably sell well due to massive marketing support.

"But is the total product experience it offers differentiated enough to continue the sales success story? Is it enough to bet on fitness and fingerprint sensors to beat Apple - rooting the experience in people's daily lives? I don't think so," Husson added.

It will enter a market that has seen slowing demand at the top end, where Samsung is already in fierce competition from Apple Inc and Chinese vendors. Price of Samsung Galaxy S5 was not revealed by the company.