Samsung Electronics Co. will be releasing their next handset, the Samsung Galaxy S5 in April. Recent reports say the official announcement of the product will be during the Mobile World Congress with store release in April. Recent information about the next flagship device also say the Samsung tapped into iris scanning technology offering a new feature to go against Apple's TouchID on the iPhone 5s.

The Samsung Galaxy S5 will launch with a new wearable device. According to executive vice president of the company's mobile business for Samsung, Lee Young Hee, the new wearable device will be an upgraded version of the Galaxy Gear. Samsung is gearing up to start the year strong to beat analyst estimates. The company failed to post expected profits falling short of their sales for the first time in nine quarters.

"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," Lee said as quoted in Bloomberg.

"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."

Samsung will be adding new featuring and strengthening its handset line to compete against Apple in the high end market. Apple's TouchID generated enough interest for the iPhone 5s that it slowed the sales of the Samsung Galaxy S4. The Korean tech giant wants to create a similar hype and functionality to increase their market share. Instead of a fingerprint scanner, the company will be including an IRIS scanner.

"Many people are fanatical about iris recognition technology," Lee during the International Consumer Electronics Show in Las Vegas.

"We are studying the possibility but can't really say whether we will have it or not on the S5." The iris scanner will serve as a security feature primarily. Earlier it was reported that the company's Note series will have an eye-recognition technology software. The software will allow the device to tell if the user is looking at the screen or not. It will reportedly shut down or stop some operations to conserve power and other resources. The same functionality may come with the iris scanner of the Samsung Galaxy S5.

People will have to wait for the Mobile World Congress for more details.