New reports have emerged claiming that Samsung has reportedly started working on their 2015 flagship device, the Galaxy S6, under a codename, Project Zero.

The Galaxy S6 is in its early stages of development and the specifications or features have not yet been confirmed at the moment.

a source also added that the code name, Project Zero, is unique since Samsung has always used letters as codenames for its flagship devices in the past.

According to the sources, the real reason behind the unique code name of S6 is that, Samsung is probably developing the next-generation flagship device from scratch with an entirely new vision, SamMobile reported.

The mobile company's recent quarterly earnings report show that Samsung wasn't able to impress the world with the Galaxy S5 and they are taking it very seriously this time.

The release of iPhone 6 and iPhone 6 Plus ate away some market share from Samsung, along with the rise of Xiaomi with its Mi-series devices, according to International Business Times.

Samsung saw a staggering 60% plus decline in profit margins from having been pushed on both sides by Apple and Xiaomi companies.

According to the information that SamMobile received, the processor that will power the upcoming Galaxy S6 will be the brand new Exynos 7420.

The processor is 64-bit chip with four Cortex-A53 and four Cortex-A57 cores. Though the Exynos 5433 is also a 64-bit chip, Samsung hasn't enabled 64-bit support on the Galaxy Note 4.

This is because the Snapdragon 805 of the Note 4 is a 32-bit processor and Android doesn't support 64-bit until Android 5.0 Lollipop was released, SamMobile reported.

Samsung has also developed an in-house LTE modem which might replace the Intel modem that they're using on the Exynos 5430/5433 for providing LTE connectivity, according to SamMobile.

The upcoming Galaxy S6 will still have a Snapdragon variant which is the Snapdragon 810.