Both LG Elextronics and Samsung are expected to release flagship smartphones that will be equipped with 2K displays. According to a report from ZDNet Korea, the LG G3 is rumored to have a 1,440 x2,560-pixel quad HD display. The size of the display is not specified, but LG has showcased a new 5.5-inch quad HD display this August. The report also says that the G3 will feature a 16-megapixel rear camera and an eight-core processor.

The G3 isn't expected to launch until the second half of 2014.

LG's currently available flagship G2 smartphone packs some impressive specs, but it has failed to impress consumers, with its sales to have fallen short the company's expectations so far.

Samsung is also expected to come up with the Galaxy S5 smartphone in 2014.

Digital Daily News on Tuesday reported that Samsung has just begun mass-producing new 5.25-inch quad HD (2,560 x 1,440) display panels that will be featured on the upcoming device.

The Galaxy S5 is also expected to feature either a quad-core Snapdragon 800 processor or Samsung?s new 64-bit eight-core Exynos processor depending on region, a 16-megapixel camera, 3GB of RAM, a 4,000 mAh battery and Android 4.4 KitKat.

Samsung is expected to unveil the new Galaxy S5 in the first quarter next year.