Samsung Executive Vice President, Lee Young Hee has finally opened up about the company's next generation flagship device.

In a report by Bloomberg, the Samsung exec talked about the Galaxy S5's release date, the rumored eye scanner technology and the next generation Galaxy Gear.

The S5's release date has been long rumored to be in time for the Mobile World Congress (MWC) 2014 in February. However, it seems that the previously reported 'March-April' release date courtesy of @eldarmurtazin holds true.

"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.

Although Samsung may be sticking to their usual release date when it comes to their flagship device, the company is said to be bringing serious changes to the S5. Lee noted that the S4's upgrades were not enough to wow Samsung fans.

"When we moved to S4 from S3, it's partly true that consumers couldn't really feel much difference between the two products from the physical perspective, so the market reaction wasn't as big," she said.

According to her, Samsung will be "going back to the basics" in terms of the specs and features of the next generation Samsung Galaxy S.

Eye scanner technology has also been discussed, considering that many are "fanatical" about it. However, the Samsung exec said that the company is "studying the possibility but can't really say whether [they] will have it or not on the S5."

Rumors of an iris scanner feature on the S5 have been floating around for some time now. The supposed iris scanner is thought to be much like Apple's TouchID technology in that it functions as an unlock feature.

Lastly, the S5 will be sharing the limelight with the Galaxy Gear's successor, which Lee defines as one with much more advanced functions and an improved design to reduce bulkiness.

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