The Samsung Galaxy S3 will be priced at Rs 43,000 in India, in line with its pricing in Europe (600 euros or Rs 42,000 plus).
While fans may be disappointed at the high price, it may be noted that the rupee depreciation is the primary factor behind the high cost.
The S2, the previous version of Samsung Galaxy S3, was priced at around just Rs 33,000 when that phone was launched a year ago.
If you exclude the impact of the Rupee depreciation, the price of the Samsung Galaxy SIII actually comes out to be Rs 34,4000.
However, that is unlikely to provide much comfort for the legions of Galaxy S fans in India.
The high price is probably slightly good news for HTC, which has the most direct competitor for the Galaxy S III — the HTC One X. The One X is priced at just Rs 36,000.
Apple iPhone 4S is also priced at Rs 42,000 onwards.
It remains to be seen whether the high price will impact its success in India. The Galaxy S 2 was considered the most widely sold smartphone in the world last year, though many believe that distinction belonged to the iPhone.
Perhaps, with the Rupee will start going up and the price of the Galaxy S3 will come down as months go by.