The entry-level device will have a 5.2-inch screen, 16 MP camera, and 2 GB of RAM. Previous rumors have said that the device will have a plastic body.
The premium phone, which KGI calls the Galaxy S5 Prime, will have a faster processor and 3 GB of RAM. It will also likely have a fingerprint sensor similar to the one on Apple's iPhone 5S. Other rumors have said the Prime model will have a metal body.
Finally, KGI says the Galaxy S5 Prime will have "3D gesture support," which is likely an upgrade to the touchless gestures on Samsung's current flagship Galaxy S4. The Galaxy S4 lets you swipe through screens and answer calls just by waving your hand over the device.
Samsung has already said the Galaxy S5 will launch by April along with a new Galaxy Gear smart watch.