Samsung will release a smaller version of its hugely popular Galaxy S3 smartphone in Europe.
The phone will be very similar to the original, but will feature a 4-inch screen.
The device will directly compete with the iPhone 5, which also features a 4-inch screen.
Update: a supposed photo of the new phone and some specs have reportedly been leaked. According to MobileGeeks, the phone will be a surprisingly mid-range affair, with an 800x480 screen and a dual-core processor instead of the quad core Exynos.
The reports come via a quote from a Samsung exec in Korea.
"We'll unveil the 4 inch Galaxy S III Mini in Germany on October 11th," Samsung mobile chief JK Shin told reporters in Korea.
"There's a lot of demand for a 4-inch screen device in Europe. Some call it an entry-level device, but we call it 'mini.'"
The announcement will be made in Frankfurt, Germany, on Thursday, and pricing, UK availability and other details are all yet to be announced.
Samsung is currently the world's leading smartphone maker, with a 32.6% global share of the market according to IDC.
But the news isn't all good for Samsung.
A survey of 500 CIOs by Virgin Media Business, shows that - for top execs at least - the tide might eventually turn.
According to the study, more than a third believe Apple will eventually overtake Samsung - although 2% said the Facebook phone will rule by 2017, despite not actually existing yet.