Even before we could explore and enjoy the latest Galaxy S3 smartphone to the fullest, Samsung is rumored to be bringing out the next version of the device. Named Galaxy S3 Mini, the new Samsung smartphone is expected to release in Q4 2012. Reports also claim that the Korean tech giant is extending its Galaxy S2 family with the launch of a Galaxy S2 Plus smartphone.

The report from TheDroidGuy states that Samsung, in its attempt to capitalize on the historical success of the S3 and the S2 smartphones, and reach wider sections of users, will be launching two models of the aforementioned smartphones before this year's holiday season.

The report also claims that the S2 Plus device will come with a 4.5 inch AMOLED screen, WVGA display, a dual-core CPU clocking at 1.5GHz, 1GB RAM, 16GB inbuilt memory, an 8-megapixel camera, and Android 4.0 Ice Cream Sandwich (although chances of the Jelly Bean platform are also high).

Galaxy S3 Mini, on the other hand, will come with a 5-megapixel camera, four-inch WVGA Super AMOLED display, and an Exynos dual-core processor.

Per TheDroidGuy report, the Galaxy S3 Mini will be priced at $200 while the Galaxy S2 Plus may be a little more pricey, thanks to its better features. S2 Plus's price can range from anything between $250 and $350.

With Apple expected to launch its fabled iPhone 5 and iPad Mini on Sept. 12, it will be interesting to see how Samsung counters the challenge with its Galaxy S3 Mini and Galaxy S2 Plus.