The Korea Times reported on Wednesday, citing an unidentified Samsung official, that a 5.8-inch phablet will be unveiled by Samsung in the second half of this year; a move which will further reinforce the South Korean company's dominance in the phablet arena.

According to the details shared by the Samsung official on the condition of anonymity, Samsung has plans underway to introduce a new phablet - a smartphone-cum-tablet device - which will feature a 5.9 inch organic light-emitting diode (OLED) screen.

The report quoted the unnamed Samsung official as saying: "Samsung is working on introducing a new phablet using a 5.9-inch organic light-emitting diode (OLED) screen."

As per the Samsung official, the 5.9-inch phablet from Samsung - presumably the Samsung Galaxy Note III - will likely be powered by the company's home-bred Exynos octa-core chipset for fulfilling the customers' demand for speedier data processing and downloading speed.

The Korea Times' report about the latest phablet from Samsung comes amid speculations that the company will launch its much-awaited Galaxy S4 handset at a New York event scheduled to be held on March 14. The handset - Samsung's latest offering in its popular Galaxy line of devices - will be equipped with mobile device management software called Knox, and will chiefly be aimed at the business market.