Unlike the Galaxy S3 and the Galaxy S4, Samsung’s (KRX:005935) latest Galaxy S5 did not get a dedicated event for its unveiling last month, leading many people to speculate about the reasons that made Samsung introduce the new handset earlier than expected. Now, a new report on Friday said that the Korean tech giant decided to unveil the Galaxy S5 earlier due to lack of innovation and to counter Apple’s (NASDAQ:AAPL) iPhone 5s, which has received an overwhelming reception in Europe.

Prior to the announcement of the Galaxy S5 at the Mobile World Congress in Barcelona on Feb. 24, many reports said that the device could sort new features and specs, such as a metal body and a 20-megapixel camera. But the device did not include any of those features, and many of its specs turned out to be not much different from its predecessors.

“Actually, there is a general consensus among Samsung employees about a lack of product innovation, even before the Galaxy S5 was revealed,” an anonymous industry source told Business Korea. “To the best of my knowledge, Samsung decided to showcase the new model at MWC 2014, rather than through a separate Unpacked event, because it was much easier to divert attention away from the innovation problem.”

Business Korea also pointed out remarks from many industry observers saying that it was very unusual for Samsung to choose MWC 2014 for the Galaxy S5 announcement, after launching aggressive marketing campaigns for both the Galaxy S3 and S4.

“There are perhaps many reasons behind our decision to reveal the Galaxy S5 at this year’s MWC, but it was mainly aimed at countering Apple’s iPhone 5S,” Business Korea quoted a Samsung executive as saying. “I heard that it was necessary for our company to unveil the new version ahead of schedule, since the iPhone 5S got a better-than-expected response in Europe, which is the Galaxy S series’ stronghold.”

According to SamMobile, both reasons sound reasonable as the Galaxy S5 has indeed failed to meet expectations created by the rumors, and Samsung might have thought it was better to unveil its latest flagship offering as soon as possible to spoil iPhone 5s’ party.

Does Samsung Need A Galaxy S5 Prime?

The Samsung Galaxy S5 did not reach some key hardware milestones, including the 64-bit Exynos processor, iris scanner and AMOLED display with 2K (2560x1440) resolution, among others. And according to a report from SamMobile, it will make sense if the company releases a more advanced version of the Galaxy S5 with more improved hardware specifications and metallic design.

According to the report, Samsung could position the Galaxy S5 in the mid- or mid-to-high market with an aggressive price, while the Galaxy S5 Prime could help the company compete in the high-end market.

Korea’s ETNews also recently reported that the premium Galaxy S5 model featuring the QHD screen -- likely with 2560x1440 pixels -- could be released a few months, after the standard model with the 1080-pixel display hits the market.

Meanwhile, the release date for the Galaxy S5 is set for April 11, when the device is to go on sale in more than 150 countries simultaneously.