Last year, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) introduced the Galaxy S3 Mini shorty after the Galaxy S3 smartphone. Although it has yet to be confirmed, there are fresh rumors of what the Galaxy S4 Mini smartphone will be like.

Samsung Galaxy S4 mini

SamMobile reported that the device will  feature a 4.3 inch qHD display, 1.6 GHz dual-core Exynos 5210 processor, and Android 4.2.2  operating system.

The new phone is rumored to be released in the early summer; it’s also rumored to come in two different variants including a dual-sim variant and a single-sim HSPA+ version with potentially a quad-core processor. The Galaxy S4 Mini is a good alternative for tech users who want a cheaper, slightly smaller phone.

Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) isn’t the only mobile phone maker who has launched scaled-down versions of their flagship phones. There have been many rumors for awhile now that Apple Inc. (NASDAQ:AAPL) would release an iPhone Mini.

The smaller iPhone is rumored to have plastic casing and no Retina display. Although the iPhone Mini would likely have been designed for budget-conscious shoppers, it probably will be a little bit pricier than initially expected like the iPad Mini.

So far, neither gadget has been confirmed; however, it’s likely that both phones will be introduced in the market before long. Budget friendly versions of popular flagship smartphones will increase the bottom line but it could also cut into the profits for the regular smartphones.  It’s crucial for these companies to prepare well in advance before introducing such smartphones.

A new Galaxy S4 Mini may not be as successful as the iPhone Mini as there doesn’t seem to be nearly as much interest in the Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) version. Perhaps tech consumers are waiting to get their first iPhone yet they don’t want to pay the hefty fee that comes with purchasing the latest version and don’t want to downgrade to an older model to save money.