Samsung Electronics Co. has hit a slight bump in the last quarter of 2013 when sales of Galaxy S4 did not perform as expected.

Today the company will be releasing Samsung Galaxy 5, a refreshed line of smartphone. Intended to outsell the previous Galaxy S4, the S5 has been reported to pack incredible features. The device will be rolled out on Feb. 24, according to Samsung's Unpacked event invitation. With the announcement of the device nears, what should people expect? Can it be a killer device?

Samsung Galaxy S5 will reportedly feature an improved camera and battery. It will launch simultaneously with Galaxy Gear smartwatch. According to a report by Bloomberg, an anonymous source said Samsung may offer the new phone for a cheaper price. With Apple set to release the iPhone 6 and reports saying it will be a whole new phone altogether, the pressure is on Samsung to get ahead of the competition and offer an equally impressive phone.

Here are some of the most notable reported features of Samsung Galaxy S5:

Eye Scanner

According to recent reports, the tech giant will incorporate an eye scanner into the handset. Suwon, a South Korean company, said Samsung will concentrate on the enhancement of security features on its devices. This is also the reason Samsung will be incorporating the eye scanner on the device.

The eye scanner will allow the device to detect user's movements and proximity. Aside from recognizing the iris construction of the user, the device can check if the user is looking into it or not. This means Samsung Galaxy S5 can turn off its applications or programs when not in use. It should also be more energy-efficient.

New Panel Technology And Bezel Free Design

Korea Herald reported the design of Galaxy S5 will be slimmer. Most smartphones feature four layers of indium tin oxide (ITO) films. Samsung will be using a new panel technology allowing it to cut the phone's depth. Also, industry watchers believe the next Galaxy phone will be even slimmer.

The single-layered panel technology will support and improve the transparency level of the display. It will also result to more accurate screen and energy efficiency.

"With the help of increased sensitivity on the panel, users will be able to swipe and tap on the screen with their gloves on," the Korea Herald quoted its source.

The new panel technology is also key to another potentially impressive feature of Samsung Galaxy S5. Through the single layer technology, Samsung can create a bezel free design. But despite the aesthetic appeal of the bezel-free design, some analysts believe this can make the phone vulnerable to external impact.

People will have to wait on Feb. 24 to find out what Samsung has in store.