Not much is known about the phone, except that it will sport a five inch display, and will almost certainly have Android Kitkat 4.4.
What is not known is the display resolution and the processor. Karbonn already has two phones in the price range, the S3 and the S5. Both come with very low resolution displays of 854 into 480 pixels.
Given that the new model is likely to be called S10, it can be expected that the phone may have an HD, 720p display.