Will the real iPhone killer please stand up? Samsung’s next-generation smartphone is already generating huge buzz. The Galaxy S IV will have tons of RAM, gesture tracking, be waterproof and make a mean mimosa. OK, I made up that last bit, but fans do have high expectations for this increasingly mythical device.

Like the Wall Street Journal, Tapscape thinks it’s a sure bet that the long rumored Samsung Galaxy S IV will be thinner and offer a bigger screen while delivering faster performance and longer battery life. Beyond that, it’s all about the hype.

Galaxy S IV Specs:
• 2GHz Exynos quad-core, 2.5GB DDR3
• Android 4.2 Key Lime Pie
• 13.1MP camera w/ 4X hardware zoom, 3-point LED flash
• 2MP camera for 3D video conferencing w/ gesture tracking
• 3600 mAh Li-Ion battery capable of 1,000 charge cycles
• 7mm, 117 grams, waterproof enclosure
• Pentaband connectivity, including LTE, WiMax

Designer Rahul Sharma’s Galaxy S IV fever dream via Concept Phones

The company’s biggest success to date, the S III, was launched in May 2012, rapidly gaining market momentum and eventually (temporarily) unseating Apple’s iPhone as the world’s best selling smartphone. Which device is now king depends largely on who does the counting and where.

That said, according to South Korean bloggers, Samsung will launch the Galaxy S IV at a press event in March.

Samsung S IV: No Unicorn Tears?

Whenever it launches, fans and even the general public are showing unprecedented interest in a device not made by Apple. Since the 2007 unveiling of the original iPhone, the Cupertino, California-based company has owned the news cycle — that dominance is now at the very least being seriously challenged.

However, with rumors that the Galaxy S IV will include esoteric features, like WiMax and waterproofing, it’s also clear that people are getting ahead of themselves.

Can the Galaxy S IV ever live up to the hype? Can Samsung managed expectations or will the Galaxy S IV gone down in flames like the Microsoft Zune or Blackberry Storm…

Inquiring minds want to know.