All the Galaxy S5 release date rumors have been put to rest because now it’s official! On Monday, Samsung Electronics Co., Ltd.(ADR) (LON:BC94) (KRX:005930) sent out an emailed invitation letter to media for its Unpacked event. The Korean electronics giant said the event will be held on February 24 at 20:00 CET during the Mobile World Congress in Barcelona. The Asia electronics major usually releases its flagship Galaxy S series devices at the Unpacked event. It’s one of the most important marketing events for Samsung. Last year, the event was held in New York.

Samsung Galaxy S5 Release Date

Galaxy S5 at Unpacked 5

Samsung Electronics Co., Ltd.(ADR) (LON:BC94) (KRX:005930) usually airs the event live through the web. The company didn’t provide many details about the event. But the invitation letter was titled “Unpacked 5,” suggesting that the world’s largest electronics maker will showcase the Galaxy S5. The Korean company spends heavily to market its products globally. In 2012, Samsung spent $12 billion on marketing and advertising. The company hasn’t disclosed its marketing budget for 2013 yet. The Galaxy S5 is expected to go on sale in April.

The Galaxy S5 is expected to release with an improved Galaxy Gear. Inside sources told SamMobile that the launch of Galaxy S5 will come in two versions as expected, one with a plastic body and another with metal casing. The move is identical to its key rival Apple Inc. (NASDAQ:AAPL)’s decision to launch a plastic and a high-end version of the iPhone last year. A Samsung Electronics Co., Ltd.(ADR) (LON:BC94) (KRX:005930) executive said last month that the Galaxy S5 s likely to release at the MWC. He added that the company is working on the iris eye scanner, which may appear in its future smartphones.

How much will Galaxy S5 cost?

SamMobile claims that its sources have revealed all the specs of Galaxy S5. It says the device will feature a 5.25-inch QHD Super AMOLED Display ((2,560×1,440 pixels), Snapdragon 805 processor, Android 4.4 KitKat, 16MP primary camera, and plastic/metal versions. Most gadget geeks are concerned about the price. SamMobile claims the metal version of the Galaxy S5 will cost $1,080 and the plastic one will be priced at around $880.