Here’s an interesting rumor. Chris Ziegler of The Verge along with several other German sites are reporting that Samsung will not be announcing their flagship Galaxy S III smartphone at the upcoming Mobile World Congress (MWC) in Barcelona.

This comes as a surprise because Samsung unveiled their Galaxy S II and Galaxy Tab 10.1 last year at their Unpacked event, the day before MWC kicked off. Many were expecting a repeat performance at this year’s MWC show that starts February 27th.

Ziegler speculates that Samsung was “uncomfortable with another long lag between the global launch and US availability” of the Galaxy S III, which is an interesting theory.

The absence of the Galaxy S III from MWC could also support my own speculation that Samsung might delay the device until their next-generation Exynos 5250 is ready. It is widely believed that Samsung System LSI is already manufacturing Apple’s quad-core A6 processor (based on the Cortex-A9 CPU core), so Samsung might try to one up them with the first mobile processor to use ARM’s Cortex-A15 core.

Earlier this month at CES, I saw the Exynos 5250 in action and I believe it could arrive sooner than expected. Most were expecting the first Cortex-A15 parts at the end of 2012 or early 2013 (like OMAP5), but I think Samsung LSI could deliver the part by early Q3 2012.

At this point we have no real clue what the exact specs of the Galaxy S III will end up becoming, which makes it fun to speculate. MWC is only a month away and I’ll be traveling to Barcelona to dig a little deeper, so hopefully we will learn more soon.

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