Samsung Galaxy S4
Samsung Electronics' Galaxy S4 (L) and Apple's iPhone 5 are seen in this file picture illustration taken in Seoul. REUTERS / Kim Hong-Ji

The Samsung Galaxy S5 appears to dethrone the mighty Apple iPhone 5s, which was released five months ago. The next flagship smartphone from Samsung will be launched on the "Unpacked 5" event at the MWC 2014 in Barcelona, Spain.

Now is Samsung's chance to impress its high-end fans with the top-of-the-line, Samsung Galaxy S5, which is reported to sport a brand new dustproof and waterproof design with bezel-free design.

Similar to the Apple iPhone 5s, the Samsung Galaxy S5 will feature a fingerprint scanner since Synaptics (SYNA) is reportedly supplying the fingerprint-sensor technology for the Samsung Galaxy S5. Furthermore, if the rumours are accurate, the next generation Galaxy smartphone will have an eye-scanning security technology, on top of a speedier 64-bit processor.

Other rumours say that Samsung will increase the display size of the Galaxy S5 to 5.2 inches from 5 inches with improved screen resolution. In contrast to the screen size, the Apple iPhones sport a 4 inches displays but the Cupertino tech giant is expected to have a bigger screen on its next generation smartphone, which could be the iPhone 6 this fall.

Thus far, pressure is building up on the Korean tech giant for the Samsung Galaxy S5 to be a hit in the market because the current flagship smartphone, the Galaxy S4 has had average sales. According to a report that Samsung made, its profits declined in two years mainly because of a slowdown in its mobile phone venture.

The Samsung Galaxy S5 will hit the shelves on mid-March at the earliest according to recent reports.

Meanwhile, one question that pops out at this point is whether or not Samsung will modify the current Android operating system of its devices. However, it must be noted that Samsung and Google recently had an agreement to work hand-on-hand to avoid fragmenting the Android ecosystem, according to a report.

Alongside the Samsung Galaxy S5, it is also possible that Samsung will launch the Galaxy Gear 2 smartwatch at the MWC 2014 event in Monday. The original Galaxy Gear was launched in September last year.