Samsung is teasing its latest smartphone in the Galaxy S family, the Galaxy S6, which is set to launch March 1 in Barcelona during Mobile World Congress, the telecommunications industry's major trade show in Spain.

On Monday, the South Korean giant sent press invites for its "Galaxy Unpacked 2015" event at Mobile World Congress with the tagline "What's Next" and an image suggesting a curved screen, TechCrunch reports.

It seems unlikely that Samsung will give the Galaxy S6 a curved screen because it is a feature not yet proven among consumers. Sam Mobile recently reported that the company filed for a patent showing a curved design on both sides of the screen, however, suggesting the company plans to unveil an Edge curved screen version alongside its next-generation flagship Android smartphone.

There have been reports detailing the Galaxy S6 specs and features but not much about available colors. Sam Mobile now reports the Galaxy S6 and Galaxy S Edge will be available in four colors: gold, white, dark blue and blue-green. The colors have not been confirmed officially.

One key fact about the Galaxy S6 is it will operate on a Samsung microprocessor rather than a Qualcomm chip. Rumors have it Samsung replaced the Qualcomm chipset because of overheating, and Qualcomm seems to have confirmed the change.

It is widely expected the Galaxy S6 will feature a 5.0 or 5.2-inch QHD Super AMOLED display, Exynos 7420 SoC paired with a 64-bit octa-core CPU, Mali-T760MP6 GPU, 3 or 4GB RAM, 32GB ROM, a 16 to 20-megapixel camera, a 5-megapixel front-facing camera, LTE Cat. 10 connectivity and fingerprint sensor.

The smartphone will also reportedly feature a payment system. Samsung is working with VISA to create a new payment system that competes with Apple Pay. The Galaxy S6 will introduce consumers to Samsung's LoopPay technology payment system, according to Korean media.

Last week, Robert Yi, IR chief at Samsung, hinted at a Galaxy S6 "special function," but whether it is the new payment system, Galaxy S Edge variant or compatibility with Gear VR, we cannot be sure.

The starting price of the Galaxy S6 in Europe is 749 euros, which is $849, reports Forbes. While that may sound expensive compared to the Apple iPhone 6 (16GB) price of $649, it is important to note that EU pricing includes sales tax. Sim free handsets are usually more expensive in Europe than in the U.S.