Samsung Galaxy Note phablet
A passerby using his mobile phone walks past an advertisement promoting Samsung Electronics' Galaxy Note 3 at its exhibition hall at a railway station in Seoul on 25 November 2013.REUTERS/Kim Hong-Ji

South Korean tech giant Samsung is reportedly planning to release its next flagship smartphone, Galaxy S5, by April. 

Lee Young Hee, executive vice president, mobile business, Samsung, talking to Bloomberg confirmed that the Korean company is gearing for the next big launch by March /April 2014, along with the next-gen Galaxy Gear smartwatch.

"We've been announcing our first flagship model in the first half of each year, around March and April, and we are still targeting for release around that time," Hee said. "When we release our S5 device, you can also expect a Gear successor with more advanced functions, and the bulky design will also be improved."

Hee also added that the Galaxy S4 might have been a slight disappointment for the consumers as its carried design patterns similar to that of its predecessor, but for upcoming Galaxy S5, the Korean company is putting in more effort to bring improvements in display and chassis.

The report also said that Samsung is planning to rival Apple's iPhone 5S fingerprint innovation with new eye scanning technology, which would feature in the upcoming Galaxy S5. The handset is also rumoured to come with 64-bit architecture based Samsung Exynos chipset or Exynos 5420 Octa-core processor.

Other Rumoured specifications of Samsung Galaxy S5:

5.0-inch Super AMOLED display with 2K (2560x1440p) resolutions and pixel density of 560 ppi (pixels per inch)

Android v4.4 KitKat OS

64-bit architecture based Samsung Exynos chipset or Exynos 5420 Octa-core processor

4GB RAM

32GB , 64GB variants with micro SD card slot

16.0 - megapixel rear camera with OIS (Optical Image Stabilization)

2.1 -megapixel front camera with full HD video recording

4000 mAh battery