By Jomari Guillermo (media@latinospost.com) | First Posted: Nov 24, 2014 04:30 AM EST

There have been rumors and speculations that Korean electronics giant is embarking on a new project codenamed "Project Zero" to pave the way for the new era of smartphones particularly for its new flagship device, the Samsung Galaxy S6.

The alleged "Project Zero" was first reported by Sam Mobile several weeks ago. It says that according to some "sources" the company is now preparing the new flagship device but no details or device specs have been shared.

In the past, Samsung named major projects with a letter such as Project J for the Galaxy S4, Project H for the Galaxy Note 3, Project K for the Galaxy S5 and Project T for the Galaxy Note 4, Sam Mobile noted.

Asked as to why Samsung used the term "Zero," Sam Mobile's unnamed sources said that the term was used since the company will be creating the new flagship device from "scratch" and with "an entirely new vision."

"'Project Zero' is an indication that Samsung is trying to achieve something unique and different with the Galaxy S6, which is exactly what we wanted from the Korean giant. Samsung wasn't able to impress the world with the Galaxy S5...The Korean giant is taking it very seriously this time, and is trying to do whatever it can, to make its Next Big Thing a major success," Sam Mobile said in the report.

Since this report has been aired, several rumors and expectations about the new device have been made.

The International Business Times said that there is still no definite time frame for the release of the new device but it noted that some claimed that it would be released by February or by March next year.

2,560 x 1, 440 screen resolution

According to Valuewalk, the device might have a full HD resolution with a 2,560 x 1,440 screen resolution. It also said that it might use Samsung's SuperAMOLED Technology in the new device.

As for the size and shape, Valuewalk said it expects the new device to have a curved screen and at 5.5 inches in size.

20-megapixel camera

An upgrade in the new device's camera is also being eyed. Valuewalk reported that the Samsung Galaxy S6 might get a 20-megapixel camera.

No more 16 GB version?

The report also added that buyers will have a choice among 32 GB, 64 GB, and 128 GB when it come to the device storage. Samsung might not produce a 16GB version of the device, it added. Aside from this, the device is also expected to get a 4GB internal memory.

Better battery

A better battery that will extend the battery life of its predecessor Samsung Galaxy S5 by at least 10 percent is also expected by Valuewalk.

Exynos 7420 or Snapdragon 810?

As for the processor, the device is expected to get either Samsung's Exynos 7420 or Qualcomm's Snapdragon 810. It is also expected to get the newly released Android 5.0 Lollipop update as its operating system.

Price

Valuewalk estimates that the new device will be priced around $720.