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But what will it look like?
Samsung is tipped to unveil the highly anticipated Galaxy S6 at Mobile World Congress at the start of March.
The Korean firm launched the Galaxy S5 at the same conference last year, though for some iterations in the Galaxy S line-up it has held its own standalone event. But according to Korean news site The Chosun Ilbo (via SamMobile), Samsung will launch its next flagship at MWC.
LG, meanwhile, isn't expected to show off its next flagship the G4 at the show. The G4 will be the successor the G3, which was named phone of the year at the Trusted Reviews Awards.
Rumours say Samsung is yet to decide on a design for the S6. It's gone metal mad of late, with the Galaxy Alpha, Galaxy A7, A3 and A5 all sporting metal chassis. However, after coming under attack from cheaper rivals like Xiaomi, Samsung has pledged to focus on more affordable devices, so could stick with a plastic body to keep costs down.
A special variant of the S6 could have a dual-edge display, according to reports. This would mimic the Galaxy Note Edge, giving you a line of apps down the side of the device. You could then choose which side they appear on, depending which hand you use to hold the phone.
Read more: Samsung Galaxy S6: release date, rumours, news, specs and price
The Chosun Ilbo quotes an unnamed LG executive saying it won't launch the G4 at Mobile World Congress. "We rolled out the G3 in May last year," they said, "so we do not plan to unveil the G4 at this year's Mobile World Congress and spend more time perfecting the new phone."