Samsung guns to get ahead of Apple as it plans to unleash the rumoured Galaxy S5 on 2014 with a wraparound and bendable display covering a big portion of the device, a new report said.

According to Bloomberg, a new Galaxy handset is currently in the works and its most notable feature would be a flexible display panel that overlaps on the edges, creating a three-sided screen that is wholly functional.

Pointing to its anonymous source, the Bloomberg report stated that release date for the gadget is likely set on Q3 2014 with July as the earliest possible debut time. There was no clear mention as the Galaxy S5 being the device in subject.

The GS5 has been reported to come out by Q1 2014 though analysts are predicting that the arrival is between January and February next year.

While the rumoured dates do not match for now, it is widely believed that innovative technology will be part of the new killer features that the Galaxy S4 replacement will introduce. Samsung, in fact, has the knowledge on-hand as it showcased the supple YOUM display via a handset prototype during this year's CES gadget gathering.

The screen was first whispered to be part of the Galaxy S4 and Galaxy Note 3 releases this year but Samsung opted to postpone the use of the display technology.

Apart from providing rooms for manufacturers to radically shape smartphone and tablets, flexible displays are also seen to provide better gadget durability by absorbing considerable amounts of pressure like that of a cushion.

But for the planned Galaxy smartphone, one cool features would be the ability to read messages on various angles, Bloomberg said, given that the wraparound display engineering effectively extends the screen's reach beyond the front portion.

It should be noted that the rumoured iPhone 6 is likely to share a similar screen feature too though patents and concepts touching on the matter have suggested of a display screen that actually wraps both the device's front and back panels.

The embodiment will also bring forth large-screen and new generation of iOS smartphones, probably in two sizes, with the possibility of invisible controllers or capacitive keys that fade out from sight when not in use.

Touted as the devices to dominate the 2014 smartphone landscape, both the Galaxy S5 and the iPhone 6 are seen to feature 64-bit computing and higher RAM provisions, likely reaching the 4GB level, making for a more advanced mobile computing environment.

But it is the Galaxy S5 that would enjoy a good head-start as its release date could happen between February and July 2014, even when considering the Bloomberg report.

As for the iPhone 6, analysts do not expect the landing to come until Sept 2014.