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Samsung Galaxy S5 to launch at special MWC Unpacked event?

Samsung looks set to launch its new Galaxy S5 smartphone at MWC later this month.

The South Korean electronics giant this morning distributed invitations for an event titled "Unpacked5: Samsung Unpacked 2014 Episode 1", which will be held in Barcelona on 24 February at 8pm CET.

The new flagship is expected to launch in two versions – metal and polycarbonate. Samsung has long been criticised for encasing its highest-end mobile device in a cheap, plastic shell, but this might well change very soon.

According to Samsung "insiders", the S5 will cost between €650 (£541) and €800 (£666), depending on the model.

It is also expected to pack a larger, 5.2in 2,650 x 1,440 resolution display, an improved 16-megapixel rear camera, Android 4.4 KitKat and an Exynos 6 or Qualcomm Snapdragon 805 chip, again depending on the model.

At CES 2014, Samsung executives suggested that the device will also feature biometric technology, such as an iris or fingerprint sensor.

Will any of this be enough though?

While the Samsung Galaxy S4 achieved solid sales figures - approximately 40 million in the space of six months - its popularity was similar to that of the S3. On the other hand, sales of Apple's iPhone 5S eclipsed those of the iPhone 5.

What's more, Apple already offers the iPhone in metal and plastic versions, one of which packs a fingerprint sensor. The next iteration of the device is also expected to pack a larger screen.

Sony's Xperia Z1 and the upcoming HTC One+ are also sure to push the S5 all the way.

Whether the S5 has enough about it to boost Samsung's profits in an increasingly saturated mobile market remains to be seen.

For those of you not fortunate enough to soak up the action live in Spain, it looks like Samsung will stream the event on its YouTube channel.