Samsung Galaxy S5 Concept Image
Samsung Galaxy S5 Concept Image by Pheonix Pham Pheonix Pham by Concept-Phones

The actual Galaxy S5 release date will not happen until the second quarter of 2014 despite Samsung's scheduled Unpacked event on February 24.

What will unfold Monday next week, which coincides with the MWC 2014 in Barcelona, Spain, is but practically a preview of the Galaxy S4 successor. In reality, Sammy fans will be taking home any GS5 as the device will only start shipping out in April this year.

According to Samsung Tomorrow, the next Galaxy smartphone is equipped with a new camera LED flash that will allow the recording of superior videos and pictures regardless of the environment. However, the same report noted too that "Samsung will (only) start mass producing the new mobile-market LEDs in March."

Target worldwide distribution of the Galaxy smartphone with the new camera flash is between April and June this year.

While Samsung Tomorrow did not specify the device in subject, it is assumed that the next big thing coming from Samsung's production lines anytime from now is the Galaxy S5. The news, however, hints that the waiting time for the GS5 will not end next week or in the immediate weeks to come.

But it should be worth the while, according to Bloomberg. The publication claimed that a lower price tag for the Galaxy S5 on release date is highly possible. The main motivation for Samsung to slash the GS 5 retail price is to lure more buyers.

The same report indicated that Samsung is acknowledging the onset of global smartphone market saturation, which according to analysts is especially true in the upscale segment, where of course the Galaxy S5 is listed.

The slowdown in smartphone sales was manifested by the weaker than expected Galaxy S4 sales beginning in the last few months of 2013. Even Apple's sales target for Q4 2013 fell short of expectations despite selling record numbers, which is the same case with the GS4.

So to counter the alarming trend, Samsung is likely to pull the SRP for the upcoming Galaxy S5. But Bloomberg did not discuss on how low the South Korean tech giant is willing to go for the GS5 pricing.

Normally, Samsung's flagship phones sell for about $200 in major markets and the package comes with service tie-ins from telcos. Unlocked, the basic 16GB Galaxy S5 could ask for about $500 and up.

If the rumoured price shave-off plans pan out, the GS5 with lock-in agreements will likely go as low as $150 just to draw away gadget shoppers from the iPhone 6 and lower models.

As for the international version, $350 to $400 for the gorgeous-looking and powerful Galaxy S5 should prove irresistible for Android and iOS fans alike.

So on Feb 24, expect these minimum specs and features from the Samsung Galaxy S5 - a 5.25-inch display panel, a 1440p screen resolution, a true octa-core CPU, a 16MP main camera and Android KitKat 4.4.2 - but the release date will have to follow a little later.