On Monday Samsung announced, via invites, that they would introduce their next Galaxy device, expected to be the Galaxy S III smart phone, on May 3rd, in London.

They left open the possibility of it not being a smart phone. Samsung’s Galaxy lineup also includes tablets and a hybrid, or phablet (too small for tablet, too big to be a phone – the Galaxy Note). But with recent releases in both of those categories, it’s highly anticipated the smart phone will be next.

The Galaxy S III’s predecessor has done very well in the sales arena. About 20 million Galaxy S II smart phones have been shipped worldwide since its launch, which was only about a year ago.

As for details on the new phone, it’s mostly rumor so far. But what we expect the Galaxy S III to have is a dual-core processor (here in the US, at least) and 1 GB of RAM. It will likely run Android 4.0 (Ice Cream Sandwich) as its operating system. It will feature a 4.7 inch touchscreen, have a 12 megapixel rear facing camera and a 2 megapixel front facing camera.

The phone may very well be a strong competitor with Apple’s iPhone. There are indications that Samsung has recently taken the lead in smart phone sales. Research firm IDC said today that the Korean-based company set a new record for the number of smart phones shipped in a single quarter. In doing so, the forced Apple into the number two position for phones shipped during the quarter.

No firm word on the US launch date for the Galaxy S III. when the S2 came out there was a delay before it appeared on the US market. Will the same thing happen this time? Will let you know here at CP as soon as we know!