Samsung has said it will revamp its smartphone lineup to take on rivals in the growing smartphone market. Reuters

Samsung Galaxy S6, the next-generation model of the South Korean technology giant’s flagship Galaxy S smartphone lineup, is currently in its early stages of development with a codename called “Project Zero,” according to a report, which said that the company has used this style as a code for the first time.

After profits at its mobile division fell 73.9 percent to 1.75 trillion won ($1.6 billion) -- its worst performance since the second quarter of 2011 -- in the third quarter of 2014, Samsung said that it would revamp its smartphone lineup to take on rivals in the growing smartphone market. And, the rumored “Project Zero” appears to be part of Samsung’s broader overhaul plan as the company is said to be developing the Galaxy S6 from scratch, SamMobile reported, citing sources.

The “Project Zero” codename is different from the ones used for previous versions of Galaxy-branded smartphones. For example, the Galaxy S5 was codenamed Project K, Galaxy S4 was Project J while the Galaxy Note 3 was referred to as Project H and the Galaxy Note 4 was codenamed Project T, according to SamMobile.

While there is very little information available about the Galaxy S6’s specifications, Chinese publication reported in August that the new handset could be made mostly out of metal. The company was also rumored to be in talks with Foxconn, Pegatron and Winstron to manufacture metal casings for the Galaxy S6. In July, a senior vice president at Samsung also reportedly indicated that the company’s upcoming Galaxy S6 smartphone could be made of “new materials.”

Meanwhile, the Samsung Galaxy Note Edge, the company’s first smartphone with a curved display, is scheduled to be released in the U.S. starting Nov. 14. The handset, which will cost more than the Galaxy Note 4, will be sold by major U.S. carriers such as AT&T, Verizon, T-Mobile, Sprint and US Cellular.