A man walks out of Samsung Electronics' headquarters in Seoul January 6, 2014.Reuters/Kim Hong-Ji

Many already know that Samsung's in-house built Tizen OS-powered smartphone Kiran aka Z1 has been under works for quite some time. Now, if a recent report from South Korea is to be believed, the speculated budget-phone will finally see the light of the day in India next week.

A media house, Maeil Business Newspaper, has reportedly claimed that Samsung will hold a press event in India on 10 December to officially launch the long-rumoured Tizen smartphone Z1 (aka Kiran).

Samsung reportedly planned to release the Z1 Tizen phone in Russia in Q3, 2014 but scrapped at the last moment for reasons unknown, reported Reuters.

Samsung's move stems from the fact that India is the world's fastest growing smartphone market. It is expected to play a testing ground for the Z1, before it can be released across global regions.

It is learnt that the Samsung's Tizen-powered Z1 aka Kiran is the company's first step towards parting ways with Android ecosystem, but it all depends on how well the new phone is received in the sub-continent.

Mozilla Firefox (Intex Cloud FX) and Sail fish (Jolla phones) have already entered the emerging markets with budget devices, but they are yet to get traction.

It remains to be seen whether Tizen pose a real threat to industry giants like Google Android, Apple iOS and the steadily growing Microsoft Windows Phone OS ecosystem.

Though the Samsung Z1 report is in line with SamMobile's last month's scoop, the South Korean company is yet to officially confirm the news. Until Samsung comes out and clears air over the rumours, this report will remain as pure speculations.

As far as internal hardware is concerned, Samsung Z1 aka Kiran is said to sport a WVGA LCD screen and will powered by 1.2GHz dual-core Spreadtrum processor backed by ARM Mali-450 graphics engine and 512MB RAM.

Leaked Specifications of Samsung Z1 aka Kiran:

Model Samsung Z1 aka Kiran (SM-Z130H)
Display WVGA TFT LCD screen with 800x480p resolutions
OS Tizen v2.3
Processor 1.2GHz Dual-core Spreadtrum CPU(chipset: SC7727S)
GPU 460 MHz ARM Mali-400 GPU
Camera Main: 3.2-megapixel camera with LED flashFront: 0.3-megapixel (VGA) camera
Add-ons Bluetooth 4.0, GPS, A-GPS, GLONASS, Wi-Fi 802.11n, Wi-Fi Direct, and a micro-USB 2.0
Expected price Less than $100 (around €80/₹6,210)