As with the original flagship, Samsung is counting on the midrange phone's fingerprint scanner, heart-rate monitor, and extra apps to stand out.
Pricing not available
Mass production will start in July for a smartwatch with a "slightly rectangular" display, Reuters reports.
Thanks to Mobile World Congress, the Galaxy S5 cat is out of the bag. How does it stack up to rival flagship phones?
Take a look at how the Samsung Galaxy S5 stacks up against its competition.
Apple has also brought the 4th-generation iPad with Retina display back into service, retiring the iPad 2.
O2 has confirmed that the new iPhone 5S and 5C will work on O2 4G, despite Apple's listing that it won't.
Samsung has updated its business-focused Knox with a dedicated app store and split billing so you can pay for work and personal calls separately.
New rumours hint at a 560ppi screen for the Samsung Galaxy S5, topping the iPhone 5S and HTC One.
Apple hasn't released preorder figures for the 5C, but analyst Glen Yeung pegs the number at more than 2 million during the first 24 hours.
Rogue retailers are defying the Samsung Galaxy S5's release date, while the Gear Fit and Gear 2 Neo are on sale in Europe.