Judging from early sales figures, the new Samsung Galaxy S5 is set to be a huge success. In addition to a bevy of new and refined features, hugely favorable reviews in the mainstream press and an effective marketing campaign, the latest version of the popular smartphone is flying off store shelves.

Samsung Galaxy S5

So how successful has the launch of the new Galaxy S5 been thus far? Well, in some markets, the phone has doubled the launch-day sales figure of its predecessor, the Galaxy S4. Considering that the S4 debuted just a year ago in 2013, this is no small feat. Even in those markets where the phone hasn’t managed to double its launch numbers, it is still selling in numbers that are at least 30% greater than before.

The Galaxy S5 is Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930)’s newest version of its flagship phone model, incorporating a number of different features, including a 5.1″ 1080P display, quad-core 2.5GHz chip, heart rate monitor, fingerprint reader and Android’s latest 4.4.2 KitKat operating system. That being said, the previous model topped 10 million sales in just one month. That phone’s predecessor, the Galaxy S3, needed 50 days to reach 10 million units sold. The fact that the Galaxy S5 has doubled the launch-day sales numbers of the S4 in multiple markets and is sold out in many more, bodes extremely well for the Korean tech giant.

Carriers clamor for Galaxy users

Now available in 150 countries, with many of those markets sold out, the Galaxy S5 is set to be a game-changer for the marketplace and a huge coup for Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) – a company that has been grappling to get out of Apple Inc. (NASDAQ:AAPL)’s shadow for the last several years. The booming sales success of the new Galaxy S5 has even prompted big carriers like T-Mobile to offer incentives and enhanced service options, such as a $1,200 family savings plan, to users of the new phone.

So what’s the future?

Though the Galaxy S5 is a tremendously capable phone, it is also coming to market more than six months after its biggest competitor, the Apple Inc. (NASDAQ:AAPL) iPhone 5S. There’s good reason to believe that an iPhone 6 might sneak its way to market before 2014 is over, and it’s all but certain that the new iPhone phone will debut by the first quarter of 2015. In order to compete, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) is going to have to offer a more capable version of its latest, the Galaxy S5. And if rumors are to be believed, this phone will be dubbed the Galaxy S5 Prime.

Many of the main features of the S5 – such as the display, hardware and body – would be upgraded with this new release. The new phone would reputedly incorporate a new 2K display (slightly higher in resolution than the current HD standard of 1080P), have 3GB of RAM for improved speed and processing and feature a stylish aluminum outer shell. Whether these rumors come to fruition or not is still anyone’s guess at this point in time, but the Galaxy is sure to remain Samsung’s flagship – particularly based on its amazing sales numbers.

Tim Alan is a freelance writer and editor who writes about technology for Freshly Techy. Follow him @TimtheTechy.