The Samsung Galaxy S3 is one of the fastest and best-selling phones of all time and the Korean electronics company is not slow in keeping up with the competition from the likes of Apple as it prepares to launch the Samsung Galaxy S4 next year.

The latest Samsung smartphone is rumored to come with a powerful quad-core 2.0 GHz Exynos 5450 chipset, and clock in at 2.0 GHz. It will be one of the fastest processors on a handset, following the Nexus 10.

And the SGS4 is also slated to come with an even bigger screen than its predecessor SGS3. Purely rumor, the Galaxy S4 may sport a massive 1080p 4.99-inch Super AMOLED display.

Samsung's new displays are expected to be unveiled at the Consumer Electronics Show early next year.

Production for these new displays from Samsung is already reportedly underway. THe displays are said to have a resolution of 1920 x 1080 with a pixel density surpassing 441ppi. This means that it will have twice as many pixels as the Retina display found on Apple's iPhones.

The Galaxy S4 is also rumored to feature a 13 mega pixel camera. This means that photos can be taken with a resolution of 4208 x 3120. However, the camera would take up more processing power and RAM if included in the new handset.

For many users, the camera is one of the most important features on their smartphone. This is said to be one of the main reasons that Samsung is releasing the Galaxy S4 so soon after its Galaxy S3. It has been rumored that the company had originally planned to include the 13-megapixel camera in the S3, but the Korean-based company was urgent to release the device to exploit its marketing window in 2012. That meant releasing it with a still impressive 8-megapixel camera, but means the higher level 13-megapixel camera has been kept back for the S4.

It has been touted that Samsung will confirm various specs and unveil their new screen at the beginning of 2013 at the Consumer Electronics Show.