Tech. giant Samsung will finally be unveiling the Galaxy S5 smartphone at the Samsung Unpacked 2014 event today. The launch event will see the unveiling of the Galaxy S5 and Galaxy Gear 2, and the Gear 2 Neo.

The Samsung Galaxy S5 is believed to pack a Qualcomm Snapdragon 800 processor, 3GM RAM, and a fingerprint scanner. There have also been reports of a super Quad HD display with 2560x1440 resolution, a 2850 mAh battery and an improved 16MP camera, up from the 13MP camera sensor packed in the Galaxy S4.

Official specs will be confirmed at the Unpacked event.

Before the launch of the fifth-generation Galaxy smartphone, Samsung revealed its second-generation smartwatch on Feb. 23.

Following up with the Galaxy Gear that was released together with the Galaxy Note 3 last year, the Korean company made the announcement for the Galaxy Gear 2 and Gear 2 Neo this weekend, but both devices will be revealed on Monday at the event.

One major change to the Galaxy Gear is that Samsung switched the operating system from Android to Tizen. Despite the modification in the smartphone OS, both the Gear 2 and Gera 2 Neo will be compatible with dozens of Samsung devices.

New features added to the smartwatch are a music player that can be used with headphones via Bluetooth plus a heart rate monitor. The location of the watch's camera has been moved from the strap to the face of the watch and the processor has been improved to a dual-core 1GHz, from the single-core 800MHz.

The difference between the Gear 2 and Gear 2 Neo is that the latter does not include a camera and is lighter than its counterpart.

To view the livestream, you can view it by clicking here.