Samsung’s (KRX:005935) flagship handsets for 2014, including next-generation models of the Galaxy S and Note series -- dubbed the Galaxy S5 and Galaxy Note 4 -- are likely to feature 16-megapixel cameras with optical image stabilization, or OIS, technology, a new report from Korea’s ETNews said on Tuesday.

According to the report, Samsung has already ordered 181 million OIS 16-megapixel modules. Although the report did not say who would supply the display components, a recent report from the same publication said that Sony (NYSE:SNE) and Samsung's LSI division were in the race to be picked as a supplier of the improved camera module for the Galaxy S5.

Sony currently has a reputation as the company-of-choice for mobile camera sensors. The company's sensors can be found in many top handsets, such as LG G2, Nexus 5, iPhone 5S, Galaxy S4 and Note 3. Meanwhile, Samsung LSI recently introduced the ISOCELL mobile camera technology, the company’s new advanced-pixel technology for CMOS image sensors, which could turn the decision in Samsung’s favor, Phone Arena reported.

Some earlier reports had said that the upcoming Galaxy S5 could incorporate a 64-bit Exynos processor, a 16-megapixel camera with OIS technology, 4GB of RAM, fingerprint scanner and the speculated Design 3.0 phase metallic chassis. The reports also suggested that Samsung could introduce the Galaxy S5 as early as in January 2014 and launch it later in February.

According to SamMobile, every Galaxy Note model has featured the same camera as the Galaxy S model released in the same year, so if a 16-megapixel camera is featured on the Galaxy S5 next year, the Note 4 is also likely to sport one as well.

Meanwhile, Samsung is also rumored to sell around 360 million smartphones in 2014, out of which only 126 million devices will be “highly priced” phones. The company is expected to focus more on the Galaxy Note 12.2, which is rumored to go into production by the end of 2013.