Samsung fans are eagerly waiting for the launch of Galaxy S7 and the latest leaks reveal specifications and features that the device may have. If the leaks are to be believed, Samsung fans will have to save money as it is expected to come with a high price tag.

According to previous reports, Samsung is planning to launch four variants of the Galaxy S7 such as the Galaxy S7, Galaxy S7 Plus, Galaxy S7 Edge and Galaxy S7 Edge Plus. PhoneArena reports that the Galaxy S7 will cost more than US$700 (AU$959.69).

Rumours are making rounds that Samsung Galaxy S7 will boast of an iris scanner feature which enables the users to unlock the device by giving it just one glance. It is speculated that the cost of the device is high due to the added feature of this iris scanner.

According to the leaked images of GizmoChina, Galaxy S7 will not have much difference in terms of design as compared to its predecessor. The leaked image shows the cases of Samsung Galaxy S7 and Galaxy S7 Plus.

The leaked image also reveals that the devices will have a rectangular home button and a raised front camera sensor, while the rest of the design will have the same features of Galaxy S6. Galaxy S7 Plus will have a large screen of 6 inches and will resemble the Galaxy S6 Plus.

The Samsung Galaxy S7 will have a 5.1-inch super AMOLED screen with capacitive touchscreen and 1440 x 2560 pixels resolution. Corning Gorilla Glass 5 will be used to protect the screen and will feature the Force Touch display and TouchWiz UI, notes GSM Arena.

Word comes that Samsung may launch the supposed devices at the Samsung Unpacked 2016 event which is scheduled for Feb.21, a day before the Mobile World Congress (MWC) event.

Samsung Electronics reportedly has planned to start an initial production run of about 5 million Galaxy S7 smartphones.