We might never figure out how Samsung chooses names for its devices but we do know that the company is currently working on two new smartphones that will soon add to their alphabet soup-inspired naming scheme.

Aside from their name-based offering like the Notes, Xcovers, and Pockets, Samsung has offered lettered-based devices as well. S stands for their flagships; E & J refer to mid-range handsets; and V & Y mean lower-end smartphones. There was also a Z that ran on the Tizen operating system and of course the K, which doubled as a respectable digital camera.

Sources from Sam Mobile previously claimed that the South Korean tech giant is planning to add an "O" to their branding with the SM-G550 and the SM-G600, although not much was known of the pair back then.

Now, insiders from the same site have gotten hold of the devices' rumored specifications.

As for their similarities, both will inaugurate Samsung's new "O series" and will feature entry-level specs, Sam Mobile reported.

Individually, the SM-G550 has been revealed to be the "Galaxy Grand On." It will have a 5-inch 720p HD touchscreen display, a quad-core 1.3 GHz Exynos 3475 processor, 2,600 mAh battery, and 1GB of RAM. It will come with an 8GB expandable internal memory. The device will be fitted with an 8-megapixel main camera and a 5-megapixel selfie snapper. It will run on Android 5.1 Lollipop while weighing 140g.

Moving on to the SM-G600, the device is to be called the "Galaxy Mega On" and will be the higher-end of the pair. It will have a 5.5-inch 720p HD touchscreen display, the quad-core 1.2GHz Qualcomm Snapdragon 410 on chip, 3,000 mAh battery, and 1.5GB of RAM. Apart from having 8GB of expandable storage space, "Mega On" will also be fitted with a 13-megapixel main camera and a 5-megapixel front-facing shooter. The device will also be running on the same OS as the "Grand On" albeit in a larger 145g body.

As of the moment, the release dates of the devices are still unknown. Their possible price ranges and the reason Samsung even developed these handsets, given how they closely mirror the Galaxy J series, have also yet to be clarified. Could they boast special features that have not been revealed yet?

It can be recalled Samsung has already collaborated with Oculus on a version of the virtual reality headset Gear VR.

"We believe Oculus in combination with Samsung could either launch a new phone series for VR as they are rumored to be releasing the 'O Series' or, alternatively (but unlikely), it could be an all in one wireless VR headset," Piper Jaffray analyst Gene Muster wrote as reported by Tech Traider Daily.

Whether this would eventually be the case, only time will tell.