Samsung has previously announced that it's working on a new 64-bit Exynos processor and the chip is now reportedly in the final stages of development.

The upcoming Samsung Galaxy S5 is expected to be the first smartphone to boast the all-new 64-bit Exynos processor.

A number of reports from the Korean media (via GforGames) are now claiming that Samsung's 64-bit processor is in the final stages of development, which could mean that it could go into production shortly. If this proves to be true, the chip may be ready for the launch of the next-generation Galaxy S5.

Samsung's current Galaxy S4 flagship smartphone had a strong start, but sales have reportedly slowed down lately. If Samsung follows its typical launch schedule, it could launch the Galaxy S5 sometime in April next year. Some recent reports, however, claimed that the company is looking to speed up the launch of its next Galaxy flagship and release it in January 2014, in a bid to boost slowing sales of the current Galaxy S4.

Before it became official, the Samsung Galaxy S4 was widely rumored to come with a metal casing instead of the plastic body found on all Galaxy smartphones. When such hopes turned out to be in vain, rumors started floating around that maybe the Galaxy S5 would be the one to finally break that plastic habit and go full-metal.

The current Galaxy S4, meanwhile, comes with two different processor variants. Depending on region, the smartphone will pack either a quad-core Qualcomm Snapdragon 800 processor clocked at 2.3GHz or Samsung's own Exynos 5420 processor.

If the Galaxy S5 will indeed be the first one to boast the new 64-bit Exynos processor, the handset may come in only one variant, i.e. sport the same processor in all regions.

Other than rumors and speculations, however, there are no details available as to what specs the next-generation Samsung Galaxy S5 would feature. On the other hand, with the iPhone 5S as the first and currently the only smartphone to rock a 64-bit processor, it would make sense for Samsung to launch its next flagship with a 64-bit processor as well. Apple and Samsung have long been competing and fighting for dominance and the Galaxy maker is expected to catch up to the new tech very soon.