Samsung is preparing to unveil the much-anticipated Galaxy S6 smartphone a day before the opening of the Mobile World Congress trade show to be held on March 1 in Barcelona.

Samsung sent out invitations on Monday to the press for one of the company's "Unpacked" events, where Samsung announces the company's most important product launches such as the Galaxy S and Galaxy Note smartphones.

The invitation is predominantly black in color, with the text "What's Next" accompanying an image of what appears to be a metallic, curved device.

Rumors suggest that the main topic of Samsung's event at the Mobile World Congress is the unveiling of the Galaxy S6 smartphone, which would become the latest flagship device for Samsung.

Sources that are familiar with the plans of Samsung told Business Insider that the Galaxy S6 smartphone will be made with metal components, which will be a departure from the plastic-based designs that the company has been using for previous versions of the smartphone.

Reports also said that the Galaxy S6 will have a version that will feature a curved screen, similar to the company's Galaxy Note Edge smartphone that was released last year. The Note 4 Edge featured a tapered edge display, and analysts are saying that the Galaxy S6 could even feature two such edges.

The curved screen goes around the right front edge of the Note Edge, providing users with more space for their screens. The edge features a scrollable menu panel that is customizable to display the user's favorite apps.

Samsung will be setting aside the Qualcomm chip and will instead use the company's very own Exynos line, claiming that Qualcomm chips were overheating during testing. All other specifications of the Galaxy S6 smartphone, however, are still unknown at this point.

Sources also add that Samsung will be announcing a new smartwatch that will have a round design, unlike all the previous smartwatches the company released under its Gear line which feature rectangular shapes.

The new devices will play a huge role in Samsung's quest to re-establish itself as the dominant company in the worldwide smartphone industry. Samsung suffered a subpar year in 2014, as the company's sales figures decreased amid increasing competition from the high-end smartphones of Apple and the low-end smartphones of budget manufacturers such as Xiaomi.

A survey conducted by Consumer Intelligence Research Partners showed that of all the mobile phones that were sold in the fourth quarter of last year, only 26 percent were Samsung devices. Apple, on the other hand, made up 50 percent of the market.

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