Samsung Electronics Co. and Google Inc. has announced the Galaxy Nexus, a new smartphone that's running a new Android operating system called the Ice Cream Sandwich. Google's Ice Cream Sandwich a mobile software than can run on both tablet computers and smartphones.

Apple launched its iPhone 4S on Friday in markets across Europe, the U.S. and Asia

Initially, Samsung and Google intended to launch the Galaxy Nexus in San Diego on Oct. 11. However, the event was rescheduled out of respect for Apple's co-founder Steve Jobs who died on Oct. 5.

Samsung and Google have been working on Galaxy Nexus since the start of the year, according to JK Shin, president of Samsung's mobile communications business. Samsung didn't reveal the price of the smartphone but it has been rumored to cost $300 on a two-year contract.

The curved-shape smartphone's specs, features are:

- A 1.2 gigahertz dual-core processor;

- A 4.65-inch Super AMOLED HD screen with a resolution of 1280x720 pixels;

- 1GB of RAM

- 32GB of storage;

- A 5-megapixel camera;

- A 1.3-megapixel front-facing camera for video chats; and

- Support for 1080p HD video capture and playback.

The Galaxy Nexus is 8.9 millimeters thick and it will be available in the U.S., Europe and Asia beginning in November.

The Galaxy Nexus is the most ambitious smartphone out at the moment and it is looking like it is ready to blow Apple away. However, its launch comes at a critical time when Samsung and Apple are locked in lawsuits all over the world regarding patent infrigement.

Apple has sued the Samsung, its closest rival in the smartphone market, accusing the South Korean company of allegedly copying its iPhone and iPad tablet designs. Samsung is banned from selling its tablet in Australia and Germany.