According to SamMobile, the mid-range handset will cost around £255 ($385, AUS$367) or less, and will be housing a 4-inch screen, 5MP camera and 4GB of internal storage. Oh, and Bluetooth 4.0.
Nothing on resolution yet, though a 720p display is apparently likely - as is a 1.2GHz dual-core CPU. Samsung has codenamed the phone the GT-S7272, hinting that this will be a dual-SIM device - although a single-SIM device is also highly likely to arrive alongside.
Potting aces in the middle range
Another new feature of the Ace 3 is more colour options - Metallic Black, Metallic Blue, Pure White and Wine red. A nice little palette for the choosy among you.
The Ace series has certainly proven hugely popular with consumers, and we expect the Ace 3, which will most likely be running on Android 4.1 Jelly Bean, to see that enthusiasm continue.