The new Samsung’s much awaited smartphone Galaxy S III is now all set to be launched in the Indian market on May 31, at 1:30 pm IST. The south Korean giant will broadcast the event live. Click here to view the live event.

The catch is that the company has not yet announced the official pricing of the smartphone and will be announced only at the launch event. Some of the media reports say that the new Galaxy S III is likely to be prices at Rs. 42,500, which will then clash with Apple’s iPhone 4S.

The Samsung store offered the customers the pre-booking of the handset at Rs. 2,000. The new Galaxy S III is available in two colours White marble and Pebble Blue. The new smartphone was launched in the Europe market with a music service, Music Hub which is a rival to Apple’s iTunes.

The new smartphone is already receiving rave reviews, and the company has got nearly 9 million pre-bookings for the phone before its launch. The Galaxy S III will be available in three versions, 16 GB, 32 GB and 64 GB. The smartphone will have a 4.8 inch super AMOLED display with a resolution of 1280 X 720 pixels, 8 megapixel rear camera and 1.9 megapixel front camera.