Technology fans are gearing up for one of the biggest product launches so far in 2013 – Samsung’s Galaxy S4 smartphone.

The unveiling will take place later in New York with the South Korean firm hoping to set a new benchmark for its rivals.

Rumours circulating on the internet suggest the handset will have a high definition five-inch screen, 13-megapixel camera and a powerful eight-core processor.

There is also speculation that users may be able to scroll the screen using eye movements.

The handset’s predecessor, the Galaxy S3, was a massive success for Samsung following its release last year.

It quickly became the standard bearer for Android phones and, combined with the firm’s other devices, helped the company overtake Apple as the world’s biggest-selling smartphone maker.

However, the iPhone is still the most popular smartphone globally and Apple also has a slightly larger market share in the US.

The stateside launch is being seen as a bold move by Samsung to tip that balance.

Samsung has teased the S4 with YouTube videos and, in recent days, a shadowy picture of the phone.

Greg Isbister, CEO of mobile advertising company BlisMedia, said if the rumours are true then the new device has great potential and the “ability to disrupt the mobile market”.

He pointed out that data from any eye tracking technology could also prove useful to advertisers.

“(It could) determine the effectiveness of advertising campaigns and generally give us a feel for what content – format, colour and position on the screen – holds our attention the most.”

But Isbister is also hoping that Samsung will improve the usefulness of the Near Field Communication (NFC) technology that featured in the S3.

“Currently the feature is completely useless,” he told Sky News. “There should be payment integration and the ability to integrate travel such as oyster systems.”

Recent months have also seen Samsung’s rivals launching flagship products, keen to steal customers from the big two.

Taiwanese firm HTC is looking to turnaround a big drop in profits with the HTC One handset – which has been widely praised by technology sites.

Canada’s Blackberry is also hoping to boost its flagging fortunes with the Blackberry 10, while China’s Huawei last month unveiled what it claims is the ‘fastest’ phone yet – the Ascend P2.

Apple’s next shot in the smartphone arms race is expected this summer with an update to the iPhone 5.