There haven’t been a lot of rumors about the upcoming release on Samsung’s flagship line of Galaxy smartphone devices. A post on Reddit did sensationalize it a bit by circulating a mock-up of the device but nothing much apart from that. Now, we have a near-confirmed report that Samsung Galaxy S III will have a quad-core CPU and on-chip LTE.

We say near-confirmed because this report comes straight from one of Samsung’s own executives. The executive further confirmed that the chip used will be Exynos-branded chipset with four CPU cores.

This is as close to the truth as it gets. And in light of that, we think that Samsung is making a significant shift away from Qualcomm. This is probably because the company wishes to reduce its reliance on Qualcomm for the processors of its smartphone devices.

The S III smartphone will also feature an on-chip LTE radio. This, again, will be a significant departure from Samsung’s earlier tradition of adding a separate chip for LTE connectivity, a feature that has been criticized by analysts in the past over possibly draining the battery of the smartphone too fast. So this move towards on-chip LTE may be Samsung’s answer to the battery issues of the upcoming smartphone.

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The executive didn’t reveal, though, that what kind of architecture will be used for the quad-core CPU. A very probably choice is 32nm Cortex-A9. But then, equally likely is Cortex-A15. Other possibilities could be quad-core Mali GPU.

While that remains to speculation still, what is certain is that Samsung is definitely gearing up to take the Galaxy S III straight to the top-of-the-range and we can hope that it will be among the most powerful smartphones available in the market once it arrives.