Reuters
The new device, which has not yet been officially announced, is expected to be unveiled at Mobile World Congress in Barcelona, Spain, next month.
Samsung is rumoured to be developing two variants of its Galaxy models: One version will use a Samsung-made processor while another will use Qualcomm, a third-party. The performance of the two models is similar, according to benchmarking tests.
Samsung's current flagship - the Galaxy S6 Edge+ - has a 5.7-inch screen, while the S6 and S6 Edge have 5.1-inch displays. The iPhone 6S Plus, Apple's biggest smartphone, has a 5.5-inch display.
The new handsets will, according to The Wall Street Journal, feature a pressure sensitive display, like the iPhone. The handset could also feature high-speed charging thanks to the new USB Type-C technology.
Samsung has recently been looking to focus on the software included on its Galaxy phones. Apple currently makes money off services - such as Apple Pay, Music, and the App Store - and Samsung lacks this revenue stream, although it has tried, launching (and then killing) a music streaming service. A shakeup of the executive team will help this transition, according to analysts.