Samsung Electronics' next-generation flagship Android device, the Galaxy S3, will not be launched at the Mobile World Congress 2012 (MWC) in Barcelona, a report said.

The Verge said there will be a delay in the launch of the new smartphone for reasons that are so far unknown. The possible reasons could be that the device is still in the final stages of completion or that the MWC is too small an event for one of the most-anticipated smartphones of this year.

The phone, expected to run on the Android 4.0 Ice Cream Sandwich operating system, could come out on top in terms of processing power. An ARM Cortex A9 chipset, which features a quad-core processor with a massive 1.5Ghz of speed on offer is set to be used in this new model. This should make the Galaxy S3 the fastest phone on the market.

Samsung is also expected to introduce a new camera for the Galaxy S3, a 12-megapixel back facing camera which is technically more powerful than the existing phones of the company. In addition it will have 4.65-inch HD Super AMOLED display with a stunning 1280 x 720p resolution.

The Galaxy S2 was one of the most popular smartphones to hit the market in 2011. Despite launching ahead of the iPhone 4S, it still gave Appleā€™s latest smartphone a run for its money. This is why many were eager to see the S3.