According to Samsung, the S7 is the only "virtual reality machine" with expandable storage, fast wireless charging, low light camera, and water resistance. Of course, the Galaxy S7 itself isn't exactly a virtual reality machine, but it becomes one when it's paired with the Samsung Gear VR headset - which is offered for free to customers who pre-order or buy the smartphone before March 18 (at least in the US). You can get the Gear VR bonus with both the regular Galaxy S7, and the larger, more expensive Galaxy S7 edge.
Compared to last year's Galaxy S6 and S6 edge, the S7 and S7 edge offer significant improvements. As already mentioned above, they've got water-resistant bodies, microSD card support, and better cameras - in addition to stuff like always on displays, liquid cooling technology, and larger batteries. While you can already pre-order the two new Galaxy handsets, they won't be released before March 11. Until then, if you want to take a closer look at them, check out our Galaxy S7 hands-on, and our Galaxy S7 edge hands-on.