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With the release of Galaxy Note 4 last month, Samsung has reportedly started working on the 2015 flagship Galaxy S series smartphone.

Samsung community website, SamMobile has learnt from the company insiders that the South Korean firm has started working on the next generation smartphone Galaxy S6 under a codename- 'Project Zero'.

The tentatively named 'Project Zero', is reportedly being kept by Samsung, as it looks back into the history and start afresh from the scratch with an entirely new vision.

For the last couple of years, Samsung's (and also other smartphone makers like HTC, Apple, Sony, LG and others) new-generation devices are more incremental in terms of specifications than innovation.

The 2014 flagship model - Galaxy S5 - reportedly failed to live up to its reputation. Adding woes, Apple released bigger iPhone 6 (4.7-inch) and iPhone 6 Plus (5.5-inch), reportedly eating away some market share from Samsung in niche high-end smartphone segment, while emerging Chinese firm, Xiaomi with its dirt-cheap feature rich Mi-series devices has pushed Samsung to the wall in mid-range and budget smartphone sector.

Squeezed from both sides by Apple Inc. and Xiaomi, Samsung's recent Q3 earning saw a staggering 60% plus decline in profit margins.

With a new vision, Samsung is expected to make a radical shift in building the new generation Galaxy S6, probably in-line with the limited edition Galaxy Note Edge, which was unveiled along with Galaxy Note 4.

Galaxy Note Edge boasts 5.6-inch (quad HD Plus resolution) unique curved edge screen, which provides quick access to frequently used apps, alerts and device functionality – even when the cover is closed.

Users just need to swipe their thumb to navigate on the edge screen. They can also receive notifications directly on the Edge Screen while watching videos without getting disturbed.

According to the recent report, Galaxy S6 is said to flaunt 5.3-inch super AMOLED screen based 4K ultra HD display with 4096x2160p resolution, two times richer than the current high-end smartphone's standard of 2K (1560x1440p).

Under the hood, it is expected to pack Qualcomm's latest 20-nanometer class -64-bit architecture based silicon chip – 2.7GHz Snapdragon 810 series Octa-core CPU (Quad-core ARM® Cortex™ A57 and quad-core A53), Adreno 430 graphics engine, 4GB RAM, 32GB inbuilt memory and 20-megapixel rear-side camera.

Though the rumours are running wild on the Internet, Samsung is yet to respond to the media. Until the company comes out and clears the air over the rumours, this report will remain as pure speculations only.

Leaked Specifications of Samsung Galaxy S6:

Model Samsung Galaxy S6
Display 5.3-inch 4K Ultra HD super AMOLED screen with
OS Most likely to come with Android 5.0 Lollipop OS
Processor Qualcomm Snapdragon 810 series Octa-core CPU (Quad-core ARM® Cortex™ A57 and quad-core A53 with 64-bit support)
GPU Adreno 430
Storage capacity 32GB or more (with memory expansion option)
Camera Main: 20-megapixel camera with 4K video recording option
Network 4G-LTE (CAT6 speeds of up to 300 Mbps with support for up to 3x20 MHz carrier aggregation on LTE FDD and LTE TDD)
Add-ons Supports Bluetooth 4.1, VIVE™ 2-stream 802.11n/ac with MU-MIMO, USB 3.0/2.0 port, Snapdragon 810 CPU comes with Integrated 4G LTE Advanced CAT6 World Mode modem, supporting LTE FDD, LTE TDD, WCDMA (DC-HSPA+, DC-HSUPA), CDMA1x, EV-DO Rev. B, TD-SCDMA and GSM/EDGE