Samsung is going to announce a smartphone between now and the end of the year called the “Galaxy Premier”. Here’s how you should think of it: It’s the Galaxy Nexus with a newer chip, a better camera, all in the body of a smaller Galaxy S3. According to a new benchmark that was discovered by Phone Arena, we now have confirmation that the Samsung GT-I9260 (the Premier) has a PowerVR SGX 544 graphics processor. The only chip we know of that uses that GPU is the Texas Instruments OMAP4470. Why is Samsung going to release a device that’s more powerful than the Galaxy S3 Mini, but slightly less interesting than the full blown Galaxy S3? We wish we could answer that question, but sadly we can’t.

Just to recap: The Galaxy S3 was the first device to introduce Samsung’s new design language. Then Samsung introduced a super sized version with a 5.5 inch screen called the Note II. More recently, we saw a shrunken down model with a 4 inch screen called the Galaxy S3 Mini. Th Premier will have the same 4.65 inch 720p display from the Galaxy Nexus, making it that much more easier to pocket.

How fast will the Premier be in real world use? For one thing, it’s going to ship with Android 4.1 Jelly Bean, so it’s going to be smooth as silk. That new GPU, which is 2.5x faster than the GPU in the Galaxy Nexus, will make things fly. As for the CPU side, two ARM Cortex A9 cores clocked at 1.5 GHz may not sound impressive in today’s world of quad core devices, but it’s still more than enough for most people’s needs.

All we want to know now is pricing. The Galaxy S3 Mini, at 400 Euros, is a total rip-off considering how cheap the Nexus is now that it’s a year old. We’re anxiously awaiting Samsung’s press release. As soon as we have it, we’ll let you know!