Samsung has announced its new smartphone, the Samsung Galaxy Ace 3, although the official release date has not yet been revealed.

The Samsung Galaxy Ace 3 is a budget phone in its Galaxy line. Specs for the device include a 4-inch screen and 1GHz dual-core processor with 1GB of RAM.

The device has an 800 x 480 pixel resolution LCD display.

The Galaxy Ace 3 will run Android 4.2 Jelly Bean and will be available in 3G or 4G LTE coverage. The 3G version of the Galaxy Ace 2 will come with 4GB of internal memory, while the 4G LTE version will have 8GB of internal memory. Both will support a microSD card, which allows for up to 64GB of storage, according to CNET.

Additional features include a 5-megapixel rear-facing camera, whose software allows for users to share photos with others. The front-facing camera has 0.3-megapixels.

A software feature on the Samsung Galaxy Ace 3 called Smart Stay dims the screen to save battery life when users look away. The new smartphone also comes with Samsung's answer to Apple's Siri, S Voice, and S Translator.

"The GALAXY Ace 3 brings users powerful performance with a dual core processor built to perform data-intensive tasks faster and more efficiently than its predecessor," the official Samsung press release states.

SamMobile.com reported that Samsung might reveal the Galaxy Ace 3 during its conference in London on June 20. Retailers expect the device to become available in July, according to Crossmap.

Samsung hasn't revealed the Galaxy Ace 3's official release date or pricing information, but the device is expected to be a more affordable option than Samsung's Galaxy S models.