Samsung Electronics is planning to come up with at least 5 million units of Samsung Galaxy S7 when the device drops in the market, a South Korean news site said.

According to a report  from South Korea's Electronic Times (via Reuters), the smartphone giant is planning to produce 5 million units of the company's next flagship smartphone.

According to unnamed sources, Samsung is preparing to launch two different types of the Galaxy S7. One of them has a 5.2-inch flat screen while the other one will come with a larger, 5.5-inch display with curved screen. The latter will be dubbed the Samsung Galaxy S7 Edge.

The report also said that Samsung will come up with 3.3 million units of the flat-screened Samsung Galaxy S7, while the Galaxy S7 Edge will be initially produced with 1.6 million units starting February 2016.

However, the South Korean tech giant declined to verify the said report.

Meanwhile, the most recent rumors about the upcoming Samsung Galaxy S7 claim that the device will reportedly feature an iris scanner.

According to Polish tech blog Android.com.pl, the next flagship device from Samsung will feature the said hardware capability that changes the current way of unlocking the device's lock screen. However, there is no word yet about how the feature will work on the smartphone device.

This is not the first time that a Samsung Galaxy S series device was rumored to come with an iris scanner. Before the release of the Samsung Galaxy S5 in 2014, rumors were rife about the manufacturer adding the said feature in the device.

Other rumored features of the soon-to-be-released Samsung Galaxy S7 smartphone include the latest Snapdragon 820 processor from Qualcomm, 4 GB of RAM, a better camera, as well as a 3D Touch-like pressure-sensitive screen that can be compared with Apple's Force Touch technology.

The Samsung Galaxy S7 is rumored to be unveiled during the Mobile World Congress on Feb. 22.