Samsung Galaxy S4
The Galaxy S4 is expected to feature Home button.CNET

South Korean tech giant Samsung is reportedly prepping to launch a range of compelling products which are currently in the production pipeline under a project codenamed 'Altius'.

According to SamMobile, Samsung is likely to announce its Galaxy S4 handset on 15 March. It was also said that the company is working on a new device, codenamed 'Serrano', which is similar to Galaxy S4 but lacks the wireless charging dock.

Samsung is also speculated to be working on a device to take on Apple's iWatch. Earlier this week, there were reports saying that Apple is readying a new watch-like device which would run on the iOS platform and perform functions of a smartphone.

"The third device could be Samsung's answer on Apple's rumoured iWatch. Project J Active based under the codename Fortius uses some strange accessories like a Arm Band, a Bike Mount and a Pouch. Project J Active isn't final decided yet but the Altius and Serrano are," reported SamMobile.

The technology blog, citing Korean website as its source, reported that the upcoming Galaxy S4 will not come with the S-Pen feature and is likely to retain the home button with capacitive touch keys. However, it maintained that ""Non-contact Gesture" will be true. Details of the non-contact gesture function may have been misunderstood for "S-Pen Feature" in the device."

Previous reports indicated that Galaxy S4 may come with a 4.99-inch Super AMOLED full HD display, 1.8GHz eight-core Exynos 5 Octa processor, 2GB of RAM and Android 4.2.1 Jelly Bean. It was also speculated that the device will sport a super-sized 13-megapixel camera on the back.