The display for Samsung's next flagship has been under numerous speculations in recent months, including the possibility of a flexible screen. However, the Galaxy S5 will not feature curvy designs due to limited production of the screens.

"The current capacity for flexible panels is not high enough for the Galaxy S5, which will be rolled out early next year," said Jong-Hyun Kim, an analyst at Seoul-based Eugene Investment & Securities. "Curved ones will be unveiled late next year as a Galaxy variant rather than as a flagship model."

Sources claim Samsung is currently able to produce 500,000 flexible smartphone displays each month, however this will be increased to one million by late 2014. Also, the company has sold only around 10,000 Galaxy Rounds since the phone launched in Korea in early October.

"The poor sales number for the Galaxy Round do not come as a huge surprise," said Dominic Sunnebo, global consumer insight director for Kantar Worldpanel. "Consumers love product innovation, but they need to be clearly told the benefits it will bring to them before they buy in."

Although the curved screen is omitted, the tech giant is preparing a high-end smartphone with a quad HD (2,560 x 1,440) display and an iris scanner, which will be a first for Samsung and likely for the industry.

The Samsung Galaxy S5 will come in two variants and launch alongside the next Galaxy Gear smartwatch. It is set to be unveiled in February at the Mobile World Congress show with a release date following the announcement in March, which would come ahead of the one-year anniversary of the Galaxy S4.