Samsung is allegedly preparing to launch an upmarket Galaxy S5 device in June, going by the name of the Galaxy S5 Prime.

Codenamed KQ, the South Korean firm is rumoured to be lining up the smartphone for release in a bid to compete directly with the LG G3 device.

Coming with a 5.2” QHD display (2560 x 1440 pixels, 564ppi), AsiaToday claims the premium smartphone will hit the shelves in just over a month.

The rumours come six weeks after Samsung CEO J.K Shin branded reports of the phone’s existence as “wrong”, insisting that there’s “no such thing” Samsung’s working on.

Yet Shin’s claims have been dismissed by some sections of the media, largely Sammobile which stated:

“Contrary to what Samsung’s Vice Chairman claims, they do indeed have had a premium version in the pipeline for quite some time.

“While the standard S5 is internally called project K, the prime version is the KQ.”

Question is, when will we see it?