Samsung Galaxy S4
Samsung's latest Galaxy S4 phone is seen during its launch at the Radio City Music Hall in New York March 14, 2013Reuters

World smartphone leader, Samsung today unveiled the much-speculated third Galaxy S4 variant 'Galaxy S4 Zoom', a camera-centric flagship handset which boasts of a stunning 16.0-megapixel camera with 10X optical zoom.

"The Samsung GALAXY S4 zoom represents yet another step forward in the way Samsung is working to enhance the lives of our customers around the world," said JK Shin, President and CEO, Head of IT & Mobile Communications Division, Samsung Electronics.

"As communication continues to become increasingly visual in nature, people wish to capture and share their moments in the highest quality possible, but often do not have the space or inclination to carry a dedicated camera for this purpose. The GALAXY S4 zoom changes this forever, combining the industry leading functionality and connectivity of the GALAXY S4 with the high quality photographic experience you'd expect from a compact camera. The result is truly the best of both worlds, without compromise," he added.

Samsung Galaxy S4 Zoom sports a 4.3-inch sAMOLED screen with qHD 960x540p display resolutions, and runs on the 1.5GHz dual-core processor, which is a bit subpar specification compared to its bigger sibling, Galaxy S4.

The new Samsung phone ships with 1.5GB RAM and 8GB inbuilt memory which can be expanded up to 64GB via microSD card.

Along with amazing 10X optical zoom feature, 16.0-megapixel main camera also boasts Xenon flash support, Zoom Ring with movable lens to take high-resolution snapshots and the smartphone sports 1.9-megapixel camera at the front side.

With the launch of Galaxy S4 Zoom, Samsung has taken its first step in to the niche camera centric smartphone market which is led by rivals Sony and Nokia.

Sony's top camera centric phones, Xperia Z and ZR ship with a 13.0 megapixel camera with 16X digital zoom, apart from that, it also boasts company's exclusive Exmor RS camera lens technology to take HDR (High Dynamic Range) snapshots.

Nokia's flagship series Lumia 920 and 925 smartphones sport 8.7-megapixel PureView camera with exclusive Carl Zeiss Tessar Lens, OIS (Optical Image Stabilization) and also boasts 4X digital zoom. These Nokia smartphone are world renowned for their stunning low-light picture taking abilities.

According to reports, Samsung Galaxy S4 Zoom is expected to hit the market this summer but there is no news about its price details as of now.

Key specifications of Samsung Galaxy S4 Zoom:

Model Samsung Galaxy S4 Zoom
Display 4.3-inch sAMOLED screen with qHD 960x540p display resolutions
OS Android v4.2
Processor Dual-core processor with 1.5GHz CPU speed
Storage capacity 8GB, expandable up to 64GB via microSD card
Camera Main: 16.0-megapixel camera with 10X optical zoom, Xenon flash support, zoom ring, enhanced SMART Modes, 24-240mm, F3.1-F6.3Front: 1.9-megapixel camera
Battery 2,330 mAh
Network 3G & 4G/LTE (only in select markets)
Add-ons Wi-Fi (802.11 a/b/g/n) 5GHz, NFC, Bluetooth v4.0 (LE),A-GPS+GLONASS,RGB Light
Dimensions 125.5 x 63.5 x 15.4 mm
Weight 208 g
Price Yet to be announced