The much awaited Samsung Galaxy S III smartphone will be launched in the Indian market on May 31, 2012. The smartphone will be launched in an event in New Delhi.

The South Korean company has already started accepting pre-bookings of the smartphone through its inline website. Those interested to buy the smartphone will have to pay an amount of Rs. 2,000.

But the price of the handset in the Indian market has not been revealed. But it is expected that the phone could be priced at Rs. 42,500, which will make it a very expensive phone.

The smartphone has been priced very close to its rival HTC One X. The Galaxy S III comes in three versions, 16 GB, 32 GB and 64 GB. But it is still not clear if the Rs. 42,500 price tag is for the 16 GB or for the 64 GB version. Some of the interesting features of the Galaxy S III phone include, 4.8 inch HD Super AMOLED display with a resolution of 1280 X 720 pixels, 8 mega pixel rear camera with flash, zero shutter lag, and 1.9 mega pixel front camera with face recognition related options. The smartphone has been powered by a quad core microprocessor and has 1 GB RAM.